Click here for slides & recordings from our series of CFA webinars
Background to CFA
The Climate Finance Accelerator (CFA) is an innovative international initiative supported by the UK Government and other international donors. Its aim is to accelerate the transformation of Nationally Determined Contributions (NDCs) into Climate Investment Plans supported by pipelines of bankable projects needed to attract investment at scale from the private sector.
The inaugural Climate Finance Accelerator
Nigeria took part in the inaugural CFA process in 2017, which has significantly increased dialogue between its public and private sector actors, and improved its understanding of how to identify ‘bankable’ projects. A portfolio of 15 projects in the area of renewable energy and climate-smart agriculture was reviewed by a small team of Nigerian experts, supported by Ricardo Energy & Environment in discussions with experts from Deutsche Bank and Deutsche Asset Management.
Opening remarks from the Nigerian delegation at the London Stock Exchange
Nigeria is the first country to have a dedicated in-country CFA initiative. The initiative was announced by Prime Minister Theresa May during her visit to Nigeria in August 2018 and is supported by the UK Government and the Children’s Investment Fund Foundation.
In line with the recommendations of the 2017 CFA, the current initiative aimed to:
- Develop further the pipeline of projects needed to deliver Nigeria’s NDC;
- Enhance local capacity to access green finance in both public and private sectors; and
- Embed the CFA approach within Nigerian plans for implementation and financing of its NDC.
The UK -Nigeria Climate Finance Accelerator project is led by Ricardo Energy & Environment alongside consortium members - Ian Callaghan, Hans Verolme, and the Nigerian Economic Summit Group.
Following this project we have undertaken a Nigeria Climate Finance Mapping project. The objective of this mapping project is to cast light, via a database of actors, on the landscape for climate finance in Nigeria, identifying sources of both financial and capacity building support for project developers and financiers themselves.
Summary report of the UK-Nigeria Climate Finance Accelerator
Report of the CFA Nigeria – Climate Finance Mapping Project