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The document examines the potential for scaling up locally led adaptation (LLA) by leveraging the different strengths of bilateral donors, multilateral development banks, vertical climate funds, and private actors. It highlights that LLA can deliver 'double dividends'—combining direct climate resilience with broader socio-economic development—and suggests building on established community and local development (CLD) models. The brief emphasizes the need for better coordination to overcome challenges such as declining official development assistance (ODA) and limited technical capacity, while calling for more robust evidence on the cost-benefit analysis of LLA compared to top-down approaches.

The briefing outlines how regional financing ecosystems—comprising regional banks, community lenders, economic development organizations, and governments—can unlock capital for clean energy by structuring local projects into investable portfolios. It highlights that a one-size-fits-all approach is ineffective, citing specific high-feasibility opportunities in Minnesota (green steel and transmission) and New Orleans (green buildings and hydrogen). By coordinating diverse financial actors and using public or philanthropic funds to absorb first-loss risk, these ecosystems can address persistent barriers such as lack of predevelopment capital and underwriting friction to ensure inclusive economic benefits from the energy transition.

The South Coast Water Reclamation Project (SCWRP) in Barbados aims to transform the existing South Coast Sewage Treatment Plant (SCSTP) into a modern Water Resource Recovery Facility (SCWRRF). The project focuses on producing high-quality reclaimed water to reduce dependence on potable groundwater, which is under threat from droughts and seawater intrusion. Key infrastructure includes a 25 km irrigation pipeline for 160 hectares of farmland and a system of injection wells for aquifer recharge in the Christ Church aquifer. The project also includes the restoration of the 33-hectare Graeme Hall Swamp and the installation of a 7 MW solar PV plant with battery storage to provide energy redundancy and reduce GHG emissions. Financially, the project employs an innovative 'Debt-for-Climate Conversion' (DfCC) mechanism, using savings from restructured sovereign debt to fund the investment. The total financing is USD 110 million, with USD 70 million requested from the Green Climate Fund (USD 40 million grant and USD 30 million loan) and USD 40 million in co-financing from the Inter-American Development Bank.

The Lagos State Climate Adaptation and Resilience Plan (LCARP) identifies critical climate risks—sea-level rise, extreme rainfall, and extreme heat—and proposes a $9 billion portfolio of 33 projects to mitigate these threats. The plan emphasizes diversifying financing mechanisms beyond concessional debt to include blended finance, grants, and nature-based solutions, while recommending policy and governance reforms to attract private investment.

The Ninth Meeting of the San Giorgio Group convened financial sector actors to identify practical solutions for scaling climate finance. The discussions focused on three primary areas: evolving 'just energy transition' into a broader 'just transformation' through co-creation and pilot projects; reframing adaptation finance as an investment opportunity rather than solely a public finance issue; and reforming Multilateral Development Bank (MDB) operating models to move toward country-level platforms and innovative risk-sharing instruments.

The document outlines a readiness proposal for Ecuador to overcome barriers in climate finance, specifically targeting the limited capacity of local financial institutions to integrate ESG standards, the lack of climate-resilient mechanisms in Public-Private Partnerships (PPPs), and institutional gaps in accessing international finance. The proposed solution involves four workstreams: strengthening local financial institutions' ESG integration, building government capacity for green bonds and debt-for-climate swaps, developing a National Green Taxonomy, and creating a strategic framework for climate-smart PPPs. The project will be implemented by the Global Green Growth Institute (GGGI) over 18 months, focusing on the Ministry of Economy and Finance (MEF) and the Ministry of Environment, Water and Ecological Transition (MAATE).

The Government of Nicaragua is seeking a USD 733,082 grant to overcome fiscal constraints and institutional gaps that hinder the implementation of its low-carbon development goals. The proposal identifies two primary barriers: limited government capacity to integrate climate considerations into financial planning and the inability of local financial institutions to apply environmental, social, and governance (ESG) standards. To address these, the Global Green Growth Institute (GGGI) will implement four workstreams: developing a National Climate Finance Roadmap, preparing for sovereign Green, Social, and Sustainability (GSS) bond issuances, creating a debt-for-climate swap strategy, and 'greening' the domestic banking sector. The project aims to diversify funding sources beyond decreasing Official Development Assistance (ODA) and high-cost debt, targeting a 24-month implementation period.

The proposal seeks USD 2,545,711 over 36 months to address fiscal vulnerabilities and institutional gaps in the Dominican Republic. Key initiatives include developing a National Climate Finance Strategy, preparing for sovereign green bond issuance, implementing debt-for-climate swaps, and establishing a National Financing Vehicle. The program also aims to green the banking sector, integrate climate criteria into public-private partnerships (PPPs), develop a National Ecotourism Strategy, and create 436,065 green jobs through vocational training. Additionally, it provides technical support to accredit two national entities as GCF Direct Access Entities.

The 'Resilient Puna' project aims to protect 120,000 hectares of puna ecosystems in the Southern High Andes of Peru (SHAP) to secure water and livelihoods for approximately 583,000 direct beneficiaries. The initiative focuses on restoring peatlands, wetlands, and grasslands using ancestral techniques like qochas and amunas, while transitioning subsistence farmers toward sustainable agribusinesses. It establishes a 'Puna Facility' to leverage public and private finance, including Payment for Ecosystem Services (PES) and carbon credits, to ensure long-term sustainability. The project is led by GIZ and Profonanpe, with strong institutional support from Peru's Ministry of Agricultural Development and Irrigation (MIDAGRI).

The proposal seeks USD 762,359 over 18 months to address Saint Lucia's fiscal vulnerability and decreasing Official Development Assistance (ODA). It focuses on five workstreams: accessing the green bond market, developing a debt-for-climate swap roadmap, greening the local financial sector, increasing capacity for Public-Private Partnerships (PPPs), and developing a concept note for a 'Green Affordable Housing' project. The project is implemented by the Global Green Growth Institute (GGGI) in collaboration with the Government of Saint Lucia.

The 'Investment Readiness for the Landscape Resilience Fund' project aims to bridge the gap between private investors and SMEs implementing climate-resilient practices in sustainable agriculture, forestry, and nature-based solutions. By providing technical assistance, zero-interest loans, and matchmaking services, the project seeks to make at least nine SMEs 'investment-ready,' thereby unlocking private capital for climate adaptation in developing countries and Least Developed Countries (LDCs).

The document outlines a 24-month project requesting USD 582,749 from the Green Climate Fund to develop a green bond market ecosystem in Jamaica. The initiative focuses on assessing the debt market, creating regional guidelines based on international standards, providing capacity building for market players, and developing a project concept for a green bond facility. It specifically aims to support the Caribbean region, including a mentorship partnership with Dominica to facilitate geothermal development financing.

The African Cities Water Adaptation Fund (ACWA Fund) aims to leverage $5 billion by 2032 to implement urban water resilience projects in 100 African cities. The fund employs a blended finance model—combining grants, concessional loans, equity, and debt—to support the full project lifecycle, from risk-based city water plans to the creation of standardized toolkits for scalable solutions. It focuses on an 'investment menu' of low-cost, replicable solutions such as nature-based solutions for flood and wastewater management, rainwater harvesting, and on-site sanitation.

The project aims to address a persistent annual operational funding deficit of USD $5.7 million within Namibia's Protected Area Network (PAN), which covers 17% of the national territory. The strategy employs a three-component approach: creating enabling conditions through economic valuation and institutional reform, mobilizing financial resources via the Game Product Trust Fund (GPTF) and innovative mechanisms, and implementing a knowledge management system. Key goals include capitalizing the GPTF as a functional endowment fund, developing a Biodiversity Offset Policy Framework, and piloting sustainable finance solutions such as biodiversity credits and wildlife bonds. The project targets the safeguarding of 13.9 million hectares of ecosystems and expects to mitigate approximately 10 million metric tons of CO2e directly over five years through improved fire and forest management.

The report outlines a strategic approach to conservation finance in South Africa to support 'Vision 2040', which focuses on 'Mega Living Landscapes' (MLLs) where people are the primary custodians of nature. It advocates for a 'whole-of-society approach' involving government, the private sector, and civil society to move beyond fragmented efforts. The document proposes using a Project Finance for Permanence (PFP) framework to coordinate various large-scale financial mechanisms, including debt-for-nature conversions and outcomes-based bonds, while emphasizing the need for a solid national financial baseline to attract international additionality.