• New platform offers free climate finance resources, aimed at financial institutions in emerging markets and developing economies (EMDEs).
• Coalition’s membership more than doubled since COP28, now with over 50 organizations globally.
• Capacity building in EMDEs is crucial, with $2.4 trillion needed annually by 2030 to meet climate goals.

Platform to Boost Climate Finance Capacity Building

Michael R. Bloomberg and Mary Schapiro introduced the beta version of the Global Capacity Building Coalition’s (GCBC) Digital Platform at the Bloomberg Global Business Forum. The platform aims to increase access to climate finance resources for financial institutions, especially in emerging markets and developing economies (EMDEs). The Coalition, launched at COP28, has grown from 19 founding members to over 50 organizations.

“This platform will give free resources and technical assistance to leaders in developing countries to help them cut emissions, drive economic growth, improve public health, and save lives,” said Michael R. Bloomberg, U.N. Special Envoy on Climate Ambition and Solutions.

Strengthening Climate Finance in EMDEs

The Digital Platform is designed to address the challenges that financial institutions in EMDEs face, including fragmented capacity-building resources and difficulties accessing relevant information. A 2024 GCBC survey found that 75% of financial institutions in EMDEs struggle with resource accessibility.

The GCBC platform offers:

• A Knowledge Hub of climate finance resources.
• A case study map showcasing scalable climate finance projects.
• A global events calendar for learning and networking opportunities.
• Real-time feedback features to continuously improve the platform.

“Supporting emerging markets and developing economies in their transition to net zero is crucial to preventing the worst impacts of climate change,” emphasized Mary Schapiro, Chair of the GCBC.

Coalition’s Global Reach and Support

The GCBC includes over 50 members representing diverse regions, including Asia, Africa, North America, and Europe. The Coalition’s network spans more than 5,000 public and private financial institutions, central banks, and finance professionals worldwide.

As Scott Morris, Vice President of the Asian Development Bank, noted, “Bolstering the capacity of developing member countries is crucial for contributing to a net-zero economy.”

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The platform’s launch also begins a 100-day global consultation seeking user feedback to further improve and expand its offerings.

The Road Ahead

With an estimated $2.4 trillion in annual climate finance required by 2030, half of which is expected from domestic sources, the GCBC’s Digital Platform plays a critical role in helping financial institutions in EMDEs develop and mobilize climate finance strategies. The platform ensures that best practices, tools, and guidance are readily available and accessible in multiple languages to enhance global engagement.