HOW CAN INNOVATIVE FINANCIAL PRODUCTS SCALE UP SUSTAINABLE FINANCING ?
With the UN estimating that nations must raise ambition by five times to meet the 1.5ᵒC target, it is clear that rapid global action is needed.
Teams will be asked to create new and innovative financial products, solutions or mechanisms that scale up sustainable financing. Entries must be commercially viable while generating tangible environmental and/or social benefits.
Models should aim to overcome the challenges and barriers that the financial community is facing in finding viable, smart models that consider ESG (environmental, social and governance) factors. These challenges include demonstrating additionally, measurability and consistency of impact, and high upfront costs.
The financing solutions must be helping to deliver/fund/increase flows of finance towards sustainable business models and innovations that will make a tangible difference on climate change and/or the UN Sustainable Development Goals. Models must be market – not policy – driven, scalable and have a measurable impact on key sustainability outcomes.
Winning Team $10,000
Runner Up $5,000