Phase II of the Climate Finance Accelerator Programme in Mexico has started
Practical ways to support climate action
The Climate Finance Accelerator (CFA) is a programme funded by the Department for Business, Energy and Industrial Strategy (BEIS) of the United Kingdom. The programme works in eight countries providing support to identify bankable low-carbon projects and potential sources of finance. In addition to identifying financing barriers and developing a portfolio of low-carbon projects, the programme is working on achieving the carbon emission reduction goals established in the Paris Agreement.
In Mexico, the programme is being implemented by IDOM, as the in-country delivery partner, offering training and advice to the owners of the selected projects for the technical and financial preparation of their proposals during the acceleration process; in addition to identifying and accompanying financial institutions and public bodies, both nationally and internationally, in the interaction with the selected initiatives and in the implementation of measures to favour climate related investment.
Call for Projects
The Call for Projects (CfP) will be open from 27 June to 31 July and applies to all interested climate initiatives that require funding of at least USD$4 million and are at least in the feasibility stage.
To participate, projects only need to fill in the following form (Spanish), the requirements for the Call for Proposals are available at the following link.
Selected projects will benefit from the following support:
- Access to potential investors
The CFA programme gives project promoters the opportunity to access funding by putting them in direct contact with potential investors, understanding their needs and developing their projects respectively.
- Advice and technical assistance
The CFA programme provides training and expert guidance in technical due diligence, finance and gender equality and social inclusion.
Project promoters will have the opportunity to expand their networks with investors and other key stakeholders in the field of climate finance.
- Increased visibility at the national level
Participating in the CFA programme and its events can increase the visibility of a project among a variety of stakeholders, from government actors at regional or national level, to a variety of actors in the financial community both locally and internationally.
- Achieving climate mitigation goals
The CFA programme has access to climate, sectoral and social impact specialists and can help projects to support local and national climate ambitions.
From 27 June to 15 July, the CFA Mexico team will respond to questions and concerns about the call for proposals by email (manuel.hernandez[at]idom.com).
Results of Phase I
In the first phase of the programme, carried out in 2021, 10 projects were selected and the owners were trained over 4 months in technical, financial, mitigation potential and gender and social inclusion aspects. The object was to help them to obtain financing with different national and international investors.
For the second phase of the CFA in Mexico, up to 10 low-carbon projects will be selected from sectors such as water, energy, land use, forestry, waste management, housing and industry, to build capacity, as in the first phase, and connect them with potential investors.
Some of the projects selected in the first phase were: Aila Energy, COMVIVE, Emisiones Neutras, Energy Factor & Dynamic Genesis, Pellet Mx, Source, The Earth Lab, Top Energy, American Sun and Grupo Dragón.
- Rubén Cors, Director of Strategy and Sustainability of the “COMVIVE, Sustainable Communities towards NetZero” Project:
The CFA helped us to better communicate our message and better speak the language of climate finance: to see what we can and can’t ask for, and how we can do it…. On the gender equality and social inclusion, they helped us a lot on how to structure the ideas we already had; that part was instrumental.
- Ufuk Akkaya, Director of the American Sun Project
The programme has done a great job. We have learned many things, developed skills and made many key contacts in the industry and financial environment…. We, the projects (promotors), need to connect; in real life there is a disconnect between financiers and projects. The CFA has given us the opportunity to connect.
Financial institutions in the second phase
Financial institutions were able to access a portfolio of investment-ready sustainable projects and learn about the barriers encountered by these types of projects. In this second phase, any institution wishing to participate can contact the CFA Mexico team: email@example.com.
We will keep you updated on the new activities of the programme, both here on the IDOM website and social media. To contact the CFA Mexico team directly, write to us at firstname.lastname@example.org.