Finance for Resilience
Accelerating finance for climate, clean energy, green growth and sustainable investment
The aim of Finance for Resilience (“FiRe”) is to identify the best potential climate, clean energy, green growth or sustainability (“CCEGGS”) financing solutions and help them get to scale. FiRe aims to help the international community reach a tipping point in climate and clean energy investment by ensuring that all key stakeholders are focused on a manageable number of scalable, actionable opportunities, within a dynamic, action-oriented process.
FiRe is designed to identify the best existing proposals to spur increased investment, rather than design new initiatives, and then to make sure they are scaled up as quickly as possible. These “FiRe Priorities” will be selected through an iterative annual process, which will identify and support the most promising ideas each year, and subject them to rigorous metrics. It is designed as an open-source platform, working with all existing CCEGGS practitioners, as well as the key multilateral implementation platforms, ministries and other external stakeholders.
Over the past few years, finance has moved to the centre of the debate on a range of sustainability-related issues, whether these are seen through the lens of climate, clean energy, green infrastructure, sustainability, natural capital, CSR, ESG or a number of other organising principles.
Consensus is emerging around a number of propositions:
1. The key to rolling out cleaner solutions lies in large-scale shifts in patterns of investment.
2. Governments alone cannot provide sufficient capital, so there is a need to attract private funding either independently or via blended “PPP” mechanisms.
3. There is no single solution to the diversion of capital flows into sustainable growth. A range of interventions is required.
4. Interventions need to be based on a systemic approach, with some targeting policies in energy and other industrial sectors, and others addressing financial, regulatory, legal, trade, educational and behavioural issues.
5. The bulk of the investment required will be North-North and South-South, but North-South will remain an important element.
6. The Green Climate Fund cannot be expected to act as the exclusive conduit, perhaps not even the largest conduit, for North-South climate finance. It will, however, be an important part of a public-private framework supporting such investment.
To qualify, FiRe interventions must meet the following criteria:
1. Be relevant to climate, clean energy, green growth or sustainability.
2. Hold the promise of an incremental $1b per annum of investment in the medium term (~3 years).
3. Be actionable – i.e. contain concrete milestones and metrics.
4. Be an intervention not a report, conference, project or fund.
5. Have one or more Champions willing to take the lead in preparing and presenting the idea, and then implementing it.
FiRe Priorities 2014/2015
Mainstreaming four types of green bonds
Catapult volumes of four green bond types to the next level through the elimination of gating items.
Champion: Suzanne Buchta Managing Director Green Debt Markets Bank of America Merrill Lynch
Debt fund for prepaid energy access
Create a debt fund to scale prepaid energy access by financing working capital for energy service providers.
Champion: Simon Bransfield-Garth Chief Executive Officer Azuri Technologies
Workstream: Scale & Aggregation
Business Renewables Resource Centre
Set up a non-profit business renewables resource centre to enhance non-energy company clean energy procurement.
Champion: Jules Kortenhorst CEO Rocky Mountain Institute
Accelerating energy efficiency financing
Fire up finance for energy efficiency using capacity building for energy audits by local commercial and development banks.
Champion: Josue TanakaManaging Director Energy Efficiency
Workstream: Risk Management
Monoline guarantees for green bonds
Establish monoline guarantees for green bonds by raising equity finance for dedicated entity.
Champion: David Stevens CEO AMF Guarantee
Global Energy Efficiency and Renewable Energy Fund 2.0
Leverage public finance in multiple layers to bring clean energy to emerging markets applying a first loss mechanism.
Champion: Cyrille Arnould Head GEEREF European Investment Bank
FiRe Finalists 2014/2015
Workstream: Risk Management
Geothermal drilling output insurance
Launch geothermal drilling output insurance to exploit large untapped resources of a low-carbon energy source.
Champion: Julian Richardson Chief Executive Officer Parhelion Underwriting
Make power plants bankable with insurance
Make power plants bankable with insurance with a dedicated re-insurance fund freeing up capacity of existing PPA insurers.
Champion: Andrew Gaines Managing Director DeRisk
Workstream: Scale & Aggregation
International Solar Investment Initiative
Develop the infrastructure to attract capital market investment, including standard contracts, best practices, and robust datasets.
Champion: Michael Mendelsohn Senior Financial Analyst National Renewable Energy Laboratory
100% Clean Access in Africa
Boost energy access in Africa with an integrated country-level framework that lays out the path to 100% clean energy.
Champion: Yariv Cohen Chairman Kaenaat
Remove fossil fuel subsidies by implementing a tool that replaces them with credits for clean energy technologies.
Champion: James Collins Senior ManagerStrategy Practice Accenture
Sustainable Credit Rating System
Develop sustainable credit rating system to reduce borrowing costs for infrastructure projects that reduce energy demand and supply renewable energy.
Champion: Daniel WienerChief Executive Officer ECOS
The full list of the 26 proposed FiRe interventions for 2014/2015 and their champions can be found here here.
If you want to get involved in any of the listed interventions, please email
The following organisations have endorsed FiRe and are supporting the initiative. To join this list of supporters, please contact us.