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Climate Finance Accelerator (CFA)
UK - Department for Energy Security and Net Zero
To accelerate the transformation of developing countries’ Nationally Determined Contributions into a pipeline of bankable projects, which have the potential to attract investment at scale from the private sector. The CFA will achieve this by facilitating ‘transaction-oriented’ workshops, convening project developers, policy makers and capital market players from participant countries with UK-based green finance experts.
Taskforce on Nature-related Financial Disclosures programme
Department for Environment, Food, and Rural Affairs
Defra is one of the largest funders of the global, market-led, and science-based Taskforce on Nature-related Financial Disclosures (TNFD) initiative. The TNFD recommendations and supporting implementation guidance enable organisations to assess, report, and act on their evolving nature-related risks, opportunities, impacts, and dependencies, with the ultimate aim of supporting a shift in global financial flows towards nature-positive outcomes and achieving the goals of the Global Biodiversity Framework. Defra contributed £2,826,855 to support the TNFD initiative’s two-year open innovation ‘design and development’ phase, which culminated in the launch of the final TNFD corporate reporting recommendations on nature-related risk management and disclosure in September 2023 at New York Climate Week. From November 2021 – November 2022, Defra also contributed £1,675,000 to fund a TNFD African Voice pilot programme, with Financial Sector Deepening Africa (FSD Africa) acting as the delivery partner. This funding was used to secure engagement by African financial institutions, governments, and central banks, with the aim of ensuring that the TNFD framework is fit for purpose in African contexts. In addition, this funding supported the production of a report examining the materiality of nature-related risks for financial institutions in African contexts. At COP28 in December 2023, the Defra Secretary of State announced an additional £2 million funding to support the TNFD initiative’s uptake phase, which is focused on encouraging and enabling voluntary market adoption across sectors and geographies, and supporting efforts to address the knowledge, capacity building and data needs of market participants.
A contribution to Financial Sector Deepening Africa (FSDA) the United Nations Development Programme Biodiversity Finance Initiative (Biofin) to support delivery of the Kunming-Montreal Global Biodiversity Framework.
Department for Environment, Food, and Rural Affairs
The programme will support low and lower-middle income countries to grow their economies in ways that help to protect and restore their natural capital and so drive sustainable economic development. It is designed to provide practical support to governments, businesses, and financial institutions to integrate nature into their economic and financial decision-making, understand and manage nature-related risks, and capitalise on growing opportunities to invest in their natural assets. As such, it will support low and lower-middle income countries to transition to nature positive, net zero economies and so protect the poorest communities. Through an integrated set of activities, the programme will deliver the following outcomes: • Private Sector Disclosure Readiness: private sector actors in low and lower-middle income countries – including financial institutions, businesses, and policy-makers - will have the tools they need to understand and manage nature-related financial risk. In particular, the programme will ensure that key institutions have the tools and capacity to respond to growing demand to disclose nature-related financial risk. • Integrating nature at country level: governmental and regulatory decision-makers in low and lower-middle income countries will have the knowledge, skills and data to design and implement policies and programmes that will help to manage nature-related risks, unlock new nature markets, and rebuild natural capital. • Action Plans for Nature: partner governments will develop clear and comprehensive plans to finance the protection and restoration of nature. These plans will act as platforms to mobilise and guide both public and private financial flows. • Evidence Sharing Mechanisms on Nature: better evidence will be available to, and used by, decision makers in low and lower middle-income countries to guide their work. The programme will help to build the evidence about how to best integrate consideration of the natural environment into economic and financial decision making. It will also help decision-makers in governments and the private sector to access and use that evidence easily by building communities of practice and robust approaches to sharing knowledge and information. The outcomes will support the implementation of the Kunming-Montreal Global Biodiversity Framework (KMGBF), agreed at the Convention on Biological Diversity (CBD) meeting COP15. As protection and restoration of critical ecosystems is also critical to tackling climate change, it will also support the UK goal to keep global temperature rises within 1.5c degrees.
ESRC-FAPESP Creating competitive advantage by serving marginalised communities: UK multinationals and inclusive development in Latin America
DEPARTMENT FOR BUSINESS, ENERGY & INDUSTRIAL STRATEGY
"Multinational Enterprises (MNEs) are often blamed for only serving the elite population when they operate in emerging markets. In addition, they require local governments to create infrastructure and arrangements that can support their activities in the respective country, thus diverting resources from underserved communities within the country towards serving the elite population. The purpose of this study is to explore how multinationals from advanced markets can contribute to the achievement of the United Nations' Sustainable Development Goals by addressing the needs of underserved populations and marginalised communities in emerging markets, while also providing expectations of long term economic return to their shareholders. Considering the increased awareness of doing good while doing well, MNEs are beginning to realise that profit maximization is not the only route to success. They need to improve their image and demonstrate that their existence is beneficial for the society in general, that is a more long-term route to achieve a competitive advantage. We intend to uncover the mechanisms and actions required by these companies to serve marginalised communities and to create a positive image in the society. To do so, we build from stakeholder theory, social entrepreneurship and value creation literature, and offer a qualitative cross-country study in Latin America. We will focus specifically on the experience of UK multinationals in Brazil and Colombia. We will collect data through focus groups and in-depth interviews with multiple actors (such as multinationals' executives, NGOs, underserved consumers, community leaders, local government representatives, investment promotion organizations, and local entrepreneurs). We will triangulate by comparing data from focus groups, interviews, and secondary sources to draw trustworthy conclusions. Further, we will use pattern matching and case comparison to analyse and make sense of data and draw conclusions. To address this complex research question, resources and expertise from the UK and Brazil will be combined. Principal and co-investigators have a successful track record in conducting research on MNEs impact in developing countries, on local firms, on engaging in training for managers, and working directly with policy makers. Key investigators are well-known international business scholars and experts with numerous relevant high-level publications. The UK team will contribute with theoretical framing, sharing research and training skills with local researchers, taking the lead in the analysis of data, producing actionable documents for stakeholders, and drafting academic publications. The Brazilian team will provide indepth knowledge of the research context, drawing on wider networks with businesses locally and close engagement with local societies while collecting data. As results we will provide guidelines for multinationals and other stakeholders as to how inclusive development can be achieved." COVID-19
FSDA - Financial Sector Deepening Africa Platform
UK - Foreign, Commonwealth Development Office (FCDO)
To drive inclusive growth through a combination of grants and development capital investments that build financial markets and institutions. The programme delivers ambitious multi-country activities and focused, local interventions which seek to strengthen capital markets, promote financial innovation, and help Africa finance a greener future.
POF - Pioneer Outcomes Funds
UK - Foreign, Commonwealth Development Office (FCDO)
A programme to leverage private finance into high performing development projects using Impact Bonds and other pay-for-outcomes models at scale to deliver the Sustainable Development Goals. A multi-donor programme to commission development projects effectively and efficiently using new instruments that facilitate better links between financial markets and providers delivering pay-for-success contracts.
HiFi - Harnessing Innovation for Financial Inclusion
UK - Foreign, Commonwealth Development Office (FCDO)
To provide access to poor people to a broad range of financial services such as payments, savings, loans, and insurance by continuing to support piloting new ideas and approaches, and to support technical assistance regulators and commercial players for enhancing industry knowledge and practice about business models, pricing and design of financial products. Access to these services enables consumers to acquire productive assets, invest in health and education and make other purchases that enrich their lives.
Supporting Inclusive Growth in Somalia (SIGS)
UK - Foreign, Commonwealth Development Office (FCDO)
SIGS programme is the UK’s flagship economic development programme in Somalia. Designed as a flexible and adaptive programme it will provide an immediate response to Covid19. It now has a stronger focus on remittances, supporting UK political leadership in this area, and, accelerated support to key Micro, Small and Medium Sized Enterprise (MSME) sectors including domestic food production and marketing. SIGS will deliver activities to 1. Develop and diversify businesses in approx. 4 high-value sectors. 2. Stimulate investment through developing the financial sector and related policy and or regulatory capacity. 3. Develop the evidence base on inclusive, sustainable, economic development in Somalia. SIGS will provide an essential policy and influencing resource for UK leadership on HIPC debt relief and or the associated reforms, including on the financial sector and counter terrorist financing.
Disaster Risk Insurance
UK - Foreign, Commonwealth Development Office (FCDO)
To improve the resilience of the private sector in poor countries to natural disasters by improving access to insurance products. By supporting the development of a market for private sector disaster risk insurance in developing countries, the project will sustainably help strengthen resilience, mitigate the effects of climate change and supporting economic development through private sector growth.
Centre for Disaster Protection (CDP)
UK - Foreign, Commonwealth Development Office (FCDO)
To protect poor and vulnerable people, save lives and help developing countries to get back on their feet more quickly after a disaster by working with governments to strengthen planning, embed early action, and use “risk financing” tools like insurance and contingent credit to finance more cost-effective, rapid and reliable response to emergencies. It aims to empower governments to build resilience to natural disasters and climate change, and take ownership of their risks, with more assistance delivered through pre-financed government-led systems. Funded by the UK Government Prosperity Fund until April 2021.
British International Investment (BII) Programme of Support in Africa, South Asia, Indo-Pacific & Carib (2015-2027)
UK - Foreign, Commonwealth Development Office (FCDO)
To enable BII to scale up its activity of investing and lending to support the building of businesses in developing countries, to create jobs and make a lasting difference to people’s lives in some of the world's poorest places. BII is FCDO’s main vehicle for investing in private companies in Africa, South Asia, Indo-Pacific and the Caribbean. BII encourages capital investments from other private investors by being a first mover, demonstrating to other investors that commercial returns are possible in these frontier markets, and by sharing risk and expertise. The additional equity from FCDO will enable BII to meet demand for capital in its target markets and allow BII to sustain a higher volume of more developmental investments across priority regions and business sectors
Risk Pools Programme (RPP)
UK - Foreign, Commonwealth Development Office (FCDO)
To support a parametric (index-based) weather risk insurance pool that will provide participating African countries with predictable, quick-disbursing funds with which to implement pre-defined contingency response plans in the case of a drought.
GFP - Global Finance Programme
UK - Foreign, Commonwealth Development Office (FCDO)
Leverages the UK’s unique position as the world’s leading financial centre to increase access to finance for firms and individuals where beneficiaries are in developing countries, promoting shared prosperity through inclusive economic growth overseas, and the development of new markets in developing countries.
Investing in Human Capital through Partnerships Beyond Aid in the Social Sectors Programme
UK - Foreign, Commonwealth Development Office (FCDO)
To improve governance and accountability in education, health and social protection sectors and contribute to policy and research which will inform interventions to improve equity and reduce poverty.
IMPACT - Investment to fund innovative solutions for development and help develop sustainable investment markets
UK - Foreign, Commonwealth Development Office (FCDO)
Investment to fund innovative solutions for development and help develop sustainable investment markets that work for the poor. FCDO is aiming to catalyse the market for impact investment in Sub-Saharan Africa and South Asia. Impact investments are those which have both a financial and social return by benefiting poor and low-income people through improved access to affordable goods and services and income generating opportunities. The Impact Programme aims to promote solutions to the barriers and constraints that are preventing Impact Investing from scaling up in Sub-Saharan Africa and South Asia. The programme seeks to foster a significant increase in the volume and distribution of impact investment, reaching the underserved as consumers, suppliers, distributors or employees, in hard to reach, difficult geographies, and through innovative business models.
SME - Small Medium Enterprise Initiative
UK - Foreign, Commonwealth Development Office (FCDO)
Support through the International Finance Corporation scaling up of commercial banks' lending to Small and Medium Enterprises in DFID targeted developing countries in Africa and Asia, with a focus on FCAS. The Initiative will support scaling up of lending to small and medium enterprises through partnership with mainstream commercial banks, leasing companies and other non-banking finance companies in DFID priority countries. The Initiative will provide banks with risk sharing mechanisms, technical assistance and advisory services as well as improved credit history information and referencing in support of scaling up their financing to small and medium enterprises.
Kenya Devolution Programme
UK - Foreign, Commonwealth Development Office (FCDO)
The programme aims to strengthen the effectiveness of Kenya's devolution. It will support county governments to better plan, deliver and monitor the delivery of public services in key sectors including agriculture, climate change, education, health, water and urban services.
Sustainable Energy and Economic Development (SEED) Programme
UK - Foreign, Commonwealth Development Office (FCDO)
To support provincial economic development and sustainable energy in Pakistan. The programme objective is to address two binding constraints to economic and urban development in Pakistan: weak planning; and energy. The programme aims • To support Pakistan's poorest province, Khyber Pakhtunkhwa to plan and finance the infrastructure and investment it needs for growth, jobs and prosperity. • To address Pakistan’s energy crisis by providing innovative financial solutions to industry for the adoption of sustainable energy practices. The programme will also contribute to Foreign, Commonwealth and Development Office International Climate Fund (ICF) obligations.
Public Financial Management Multi Donor Trust Fund – Phase II
UK - Foreign, Commonwealth Development Office (FCDO)
The programme provides support to strengthen Nepal’s Public Finance Management (PFM) systems in the context of the implementation of federalism.
The Ethiopia Investment Advisory Facility (EIAF) Phase II Programme
UK - Foreign, Commonwealth Development Office (FCDO)
The programme aim to provide flexible, demand-led technical assistance to Government of Ethiopia ministries, agencies and state-owned enterprises in order to enhance the effectiveness of public investments and improve the enabling environment for exporters. By providing technical expertise and capacity building in the areas of public investment management; industrial parks and their supporting infrastructure; and trade logistics, EIAF II aims to contribute to outward oriented, manufacturing led, sustainable and inclusive growth in Ethiopia.
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