Stockholm (NordSIP) – The new $4 million P4G Partnering for Green Growth and the Global Goals 2030 Fund spearheaded by the Danish government opened for applications February 5th with a call for concept notes to be submitted by March 30th.
P4G funds partnerships focused on agriculture and food, water, energy, cities and circular economy. It will seek to encourage partnerships that build alliances with communities and government, rely on joint financing and innovative platforms, develop agreed common standards for sustainable data and reporting, help develop access to capital markets through coalitions and offer concrete, bankable solutions ready for large-scale investment.
“The idea is to promote partnerships between the public and private sector in order to meet the SDGs and create jobs at the same time,” Danish Prime Minister Lars Løkke Rasmussen told CNBC at the World Economic Forum last month.
The Fund is also set up to provide non-financial support, such as convening investors, governments and businesses around new business models, advocating for government policies that enable favourable market conditions, and matching known solutions to new market opportunities.
The Fund is open to partnerships at the start-up and scale-up phases consisting of both commercial and non-commercial partners that operate on a non-profit basis.
The P4G alliance was launched at the United Nations General Assembly in New York last September and includes Denmark, China, Indonesia, Chile, Mexico, Ethiopia, Kenya, South Korea and Vietnam and the C40 Network, which connects 92 cities representing 25% of the global economy and includes 12 major American cities, among them New York, Chicago, Los Angeles, San Francisco and Houston.
P4G also involves the Danish spearheading of the SDG Investment Fund that is expected to ensure investments worth $6 billion and will help to subtend green initiatives and partnerships between the cities and countries that have joined the project. The Danish government itself will contribute around $5 million towards incubation and scale strategies of P4G moving towards 2021.
P4G has its international base, a ‘climate hub’, in Washington D.C. as of the beginning of this month (January), with Copenhagen set to host its first summit on 28-29 November 2018.
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