World Bank Launches Climate Business Innovation Network

Worldbank_logoThe World Bank and partners launched a Climate Business Innovation Network at the Marrakech Climate Change Conference in Morocco. The Network brings together over 30 foundations, donors, businesses, investors, venture funds, universities and government agencies to help local businesses in twelve developing countries transition to clean technology and advance climate action. It will support climate technology businesses with access to the expertise and know-how essential for implementation of commitments inscribed in the countries’ Nationally Determined Contributions (NDCs).

Linking small businesses to global sources of technology, finance and expertise, the Network will build local capacity that enables the countries to transition to clean energy and other climate-smart solutions. It will connect public and private organizations that will collaborate in providing advisory services, market connections and funding for growing clean technology businesses.

The Network will, inter alia: spread models to enable climate innovation; diffuse green business models; crowd-in global sources of finance for climate technology innovation; sponsor networking; and share local and global research and resources through a virtual platform.

The Network builds on the World Bank’s Climate Technology Program (CTP), a US$70 million initiative that catalyzes the growth of climate technology sectors in developing countries by strengthening local institutions that support small and growing businesses. CTP is supported by the UK’s Department for International Development, Australia’s Department of Foreign Affairs and Trade (Australian Aid), Denmark’s Ministry of Foreign Affairs (DANIDA), Norway’s Ministry of Foreign Affairs and the Netherlands’ Ministry of Foreign Affairs.

Local and regional partners include: Embrapa (Brazilian Agricultural Research Corporation); Egyptian National Cleaner Production Center; Ethiopia Climate Innovation Center; Ghana Climate Innovation Center; Caribbean Climate Innovation Center (Jamaica); Scientific Research Council (Jamaica); Kenya Climate Innovation Center; Renewable Energies Industries Association of Malawi; SME Development Institute (Malawi); Banque Nationale de Mauritanie; Jeune Chambre de Commerce (Mauritania); Union Nationale du Patronat Mauritanien; Moroccan Agency for Sustainable Energy; Morocco Climate Innovation Center; Bertha Center for Social Entrepreneurship (South Africa); GreenCape (South Africa); South Africa Climate Innovation Center; Caribbean Industrial Research Institute (Trinidad & Tobago); National Agency for Technology Entrepreneurship and Commercialization Development (Vietnam); and Vietnam Climate Innovation Center.