The Climate Policy Initiative (CPI) has identified 10 key elements for public climate finance to deliver transformational change. It says that this means moving beyond the project level toward transformational change at the market and system levels, which is both an imperative and an opportunity for public climate finance providers.

“Focusing on – and responding to – these dimensions is a key means by which public climate finance providers can yield market- and system-level changes, thereby delivering transformational climate finance,” it says.

“For example, programmatic approaches that constitute coherent, multi-year and scalable funding envelopes are a key means by which public climate finance providers can move away from one off, project-by-project interventions, towards catalysing positive and sustained changes at the market- and system-level, within which the programme is implemented.”