Stockholm (NordSIP) – The Nordic Climate Facility (NCF) launches its latest application round to provide grants for innovative climate change projects in 21 developing countries today, June 5th. Applications for grants worth between €250,000 and €500,000 can be submitted for the next three months, until September 5th.
“Tackling climate change remains a global urgency, and there is no one-size-fits-all solutions when it comes to addressing climate change mitigation and adaptation,” explains Emeli Möller (pictured), Manager at NCF. “Under NCF, innovative business concepts will have an opportunity to transform markets through solutions that address climate change while meeting the needs of local populations. We see that innovation is so much more than just technological innovation.” According to the Manager, context and deliverability are key. “In NCF projects, the innovation often lies in how to make technologies work in a given context, or how to provide a product or service in an accessible and affordable manner to improve lives.”
The NCF is a challenge fund set up in 2009 to finance early-stage climate change projects in developing countries. The organisation aims to build a portfolio of innovative business concepts which have been tested, proved viable and are ready to be scaled-up and replicated. Selected projects should contribute to the fulfilment of the UN Sustainable Development Goals. The NCF is financed and managed by the Nordic Development Fund (NDF).
“We want to encourage companies and investors to be a part of the solution,” says Möller. “We have seen that providing early-stage risk financing can be the difference between a great idea without access to finance and a successful business concept that addresses climate change through demand-driven solutions. There is great demand for the type of de-risking financing that NCF provides.”
Funding from NCF is allocated on a competitive basis through yearly application rounds. The Nordic focus requires that at least one of the project partners should be an organisation registered in a Nordic country.
“We adjusted the theme for our two previous funding rounds to encourage applicants to think about more about the commercial viability of their project proposal,” Möller adds. “As a result of this, we have seen applications that are more focused and have a clear long term plan. This development has been welcome, and the theme for this year’s round remains very similar – ‘testing the viability of innovative climate solutions’. We look at the concept’s viability from financial, technical, environmental and social perspectives as all of these aspects are interlinked. If a solution is not socially accepted, it will not fly.”
A webinar will be arranged on 13 June 2019 with more information about the facility and tips for writing a successful application.
Picture courtesy of NDF