CISI joins global coalition supporting digital platform for finance climate action strategies

CISI has joined the Global Capacity Building Coalition supporting launch of new digital platform for finance climate action strategies.

Michael R. Bloomberg and Mary Schapiro on 25 September announced the Beta launch of the platform to support financial institutions seeking to build climate finance technical capacity and resources.

Developed by the Global Capacity Building Coalition, the new digital platform is designed to be a go-to global resource for financial institutions developing climate action strategies, particularly in emerging markets and developing economies

Following its launch at COP28 with 19 founding members, the Coalition’s membership has now more than doubled to over 50 organizations

At the Bloomberg Global Business Forum, Michael R. Bloomberg, U.N. Secretary-General’s Special Envoy on Climate Ambition and Solutions, and Mary L. Schapiro, Chair of the Global Capacity Building Coalition (GCBC), launched the beta version of a new Digital Platform (www.capacity-building.org). The Digital Platform is designed to significantly increase the availability and effectiveness of climate finance capacity-building resources and programs for financial institutions, finance professionals, and others to support the climate transition around the world – particularly in emerging markets and developing economies (EMDEs).

Michael R. Bloomberg, U.N. Secretary-General’s Special Envoy on Climate Ambition and Solutions said, “To avoid the worst effects of climate change, we need an enormous amount of new investment in clean energy, especially in emerging markets. This platform will give free resources and technical assistance to leaders in developing countries to help them cut emissions, drive economic growth, improve public health, and save lives.”

In addition to developing the platform in its first year, the Coalition continued to grow into a leading global network for coordinating access to climate finance training and capacity-building programs. GCBC’s membership has more than doubled, growing from 19 founding members to over 50 organizations. By welcoming the new supporter members, the GCBC is enhancing collaboration among organizations in the fragmented capacity-building ecosystem. The expanded engagement from members of the financial sector exemplifies the continued support and recognized importance of working together to promote economic growth, environmental resilience and public health in EMDEs.

The GCBC proudly encompasses a diverse global membership of more than 50 organizations, who, in the aggregate, work with over 5,000 public and private financial institutions, 160 financial centers and exchanges, 130 central banks and financial regulators, and millions of finance professionals. Our members are headquartered in Asia, Africa, North America and Europe.

Mary Schapiro, Chair of the Global Capacity Building Coalition, Chair of the Climate Steering Data Committee, and Vice-Chair of GFANZ said, “Supporting emerging markets and developing economies in their transition to net zero is crucial to preventing the worst impacts of climate change. The launch of the beta platform and the addition of new members to the GCBC highlight the Coalition’s dedication to this mission and showcase the strength of its collective expertise.”

As the world races to meet critical decarbonization goals, EMDEs will require $2.4 trillion in annual climate finance by 2030 to build resilient, sustainable economies and enable the global transition to net zero, with around half of this finance expected to come from domestic resource mobilization. Yet for many, the path to mobilizing capital for the climate transition is murky and costly, the business case for action is not well-understood, and best practices are still emerging and developing. Capacity building can help address these challenges, but currently capacity building offerings for EDMEs are fragmented and difficult to navigate. A 2024 GCBC survey found 75% of financial institutions in EMDEs faced issues accessing relevant resources.

With the aim of becoming a world-leading comprehensive platform for tools and training on climate finance, the GCBC has developed a beta version of its online platform to help turbocharge climate and transition finance capacity building in EDMEs. The GCBC Digital Platform has been set up to be a one-stop shop for sharing high-quality climate finance capacity-building and technical assistance resources, focused especially on financial institutions and finance professionals in EMDEs.

The GCBC was launched by the U.N. Secretary-General’s Special Envoy on Climate Ambition and Solutions Michael R. Bloomberg, alongside senior leaders of multilateral development banks, finance, and international organizations at COP28 in December 2023. While many existing resources for capacity building remain inaccessible and can be costly for users, GCBC’s Platform is freely available and removes barriers to critical information. The Coalition is designed to enhance collaboration and respond to growing requests for capacity-building support from financial institutions in EMDEs to meet the aims of the UN and the G20 Sustainable Finance Working Group (SFWG).

Since its launch last year, significant activity has been underway to build and populate the platform with the tools and information vital to improving knowledge of climate finance for financial institutions in EMDEs. The beta version of the platform includes a number of resources and functionality layers, including:
• A Knowledge Hub containing high-quality, searchable, climate finance resources including frameworks, guidance tools, reports and other materials;
• A global case study map and library providing real-world examples of innovative, impactful and scalable climate finance projects;
• A global events calendar to showcase and share live information on learning and networking opportunities;
• Interactive feedback to allow users to provide input in real time, enabling continuous platform improvement; and
• Translation and enabling features to improve reach through translation and search functions.

The platform is accessible in the six official UN languages, plus Portuguese and Indonesian, to maximize global accessibility and engagement.

Alongside the beta launch, GCBC has also launched a 100-day global consultation seeking user feedback on the Platform and on other activities to catalyze and convene global, regional, and national capacity-building ecosystems.

The coalition includes a group of leading actors in climate finance capacity building who have come together to work collaboratively to extend support for EMDEs. Founding Members, and Observers* of the Coalition include:
• African Development Bank (AfDB)
• Asian Development Bank (ADB)*
• Asian Infrastructure Investment Bank (AIIB)
• Bloomberg Philanthropies
• European Bank for Reconstruction and Development (EBRD)
• Glasgow Financial Alliance for Net Zero (GFANZ)
• Global Blended Finance Alliance (GBFA)
• Green Climate Fund (GCF)*
• Finance in Common (FiCS)
• Inter-American Development Bank (IDB)
• International Monetary Fund (IMF)*
• International Sustainability Standards Board (ISSB)
• Network for Greening the Financial System (NGFS)*
• Principles for Responsible Investment (PRI)
• United Nations Climate High-Level Champions
• United Nations Development Programme (UNDP)
• United Nations Environment Programme Finance Initiative (UNEP-FI)
• United Nations Framework Convention on Climate Change (UNFCCC)*
• The World Bank Group*
New supporter members of the Coalition include:
• Asia Investor Group on Climate Change (AIGCC)
• Association of Chartered Certified Accountants (ACCA)
• Blended Finance Taskforce
• Cambridge Institute for Sustainability Leadership (CISL)
• Capitals Coalition
• Ceres
• CFA Institute
• Chartered Institute for Securities and Investment (CISI)
• Climate Arc
• Climate Bonds Initiative (CBI)
• Climate Investment Funds (CIF)
• Climate Policy Initiative (CPI)
• Climate Safe Lending Network (CSLN)
• Columbia Center on Sustainable Investment (CCSI)
• Convergence
• Ellen MacArthur Foundation
• European Banking and Financial Services Training Association (EBTN)
• Frankfurt School of Finance and Management
• FSD Africa
• Global Association of Risk Professionals (GARP)
• Global Ethical Finance Initiative (GEFI)
• Green Digital Finance Alliance (GDFA)
• Green Finance Institute (GFI)
• Hong Kong Green Finance Association (HKGFA)
• Institute of Chartered Accountants in England and Wales (ICAEW)
• International Federation of Accountants (IFAC)
• Oxford Sustainable Finance Group
• Private Infrastructure Development Group (PIDG)
• Rocky Mountain Institute (RMI)
• Sustainable Finance Education Charter
• Taskforce on Nature-related Financial Disclosures (TNFD)
• Theia Finance Labs
• UN Sustainable Stock Exchanges Initiative (UN SSE)
• World Alliance of International Financial Centres (WAIFC)

Tracy Vegro OBE, CEO of the Chartered Institute for Securities & Investment (CISI) said: “As an educational charity and professional body with 53,000 global members working in the wealth management, capital markets and financial planning sectors, CISI fully supports the ambitions of the Global Capacity Building Coalition.

“Leadership in the mobilisation of climate finance globally to accelerate the transition to sustainable economies is hugely important. As a signatory to the UK Sustainable Finance Education Charter, CISI is working to enhance the skills and knowledge of our finance sector professionals of the impact of climate change, pollution and biodiversity loss, and ultimately of the strategic, commercial and moral imperatives to develop clean, resilient and prosperous economies that work for all.”

Scott Morris, Vice President, Asian Development Bank (ADB) said, “The Asian Development Bank recognizes that bolstering the capacity of developing member countries is crucial for helping operations and projects contribute to a net-zero economy. We commend the GCBC Platform as a comprehensive tool for enhancing climate finance capacity across Asia and the Pacific.”

Helen Brand, Chief Executive, Association of Chartered Certified Accountants (ACCA) said, “As a leading global professional accountancy organization ACCA (the Association of Chartered Certified Accountants) is proud to support the Global Capacity Building Coalition. Building capacity is particularly acute for emerging markets and developing economies (EMDEs) where ACCA, and many of its members and future members, are working hard to make a difference.
ACCA is aware of the need to address the lack of resources and information to efficiently and effectively finance the transition to net zero.

This is why next week (27th September) ACCA is launching a groundbreaking Sustainability Diploma aimed at addressing the sustainability knowledge gap among financial professionals across the globe. Reducing barriers to knowledge and resources remains imperative to financing a global, just transition.”

Katherine Stodulka, Chair, Blended Finance Taskforce said, “One of the biggest barriers to scaling climate finance in emerging markets is a lack of capacity – especially to build pipeline, to validate transition plans and to structure the right financing products. We have seen great examples where capacity building has helped unlock institutional capital for sustainable infrastructure deals – like Kenya’s pension fund consortium which pooled expertise to validate the climate impact of certain transactions. But too often, the approach to capacity building is ad hoc, inconsistent and not locally led, with a lack of clarity about who provides what. I welcome the launch of the Global Capacity Building Coalition and its digital platform as a crucial step in tackling these capacity building gaps.”

Lindsay Hooper, CEO, Cambridge Institute for Sustainability Leadership (CISL) said, “We look forward to working within the Global Capacity Building Coalition to enhance capacity building support in parts of the world that are such an essential part of our global success in securing a sustainable future for all.
While predicting the future with certainty is impossible, and no-one can provide a blueprint for guaranteed success, education plays a vital role in enabling leaders to prepare and adapt for disruption and ultimately lead market shifts to enable the financing of the transition to a cleaner, fairer and more prosperous economies.”

Mark Gough, CEO, Capitals Coalition said, “By fostering knowledge and capacity, we can empower individuals and organizations to create positive change. The Global Capacity Building Coalition’s new Digital Platform is a vital tool for equipping people and directing finance towards what truly matters.”

Mindy Lubber, President and CEO, Ceres said, “A successful net zero transition requires financial institutions globally to be equipped with the necessary knowledge and tools for the challenge. Ceres is proud to join the Global Capacity Building Coalition and support worldwide efforts to scale climate finance in emerging markets and developing economies. This platform will be a vital resource for financial institutions and will allow local institutions to take immediate steps toward the net zero transition.”

Margaret Franklin, President and CEO, CFA Institute said, “CFA Institute is proud to join the Global Capacity Building Coalition. We believe that educating financial professionals on all aspects of sustainable investing is key to building the capacity needed to address the world’s toughest climate challenges. Our CFA Program and certificates in ESG Investing and Climate Risk, Valuation and Investing Certificate, plus our Climate Finance course, seek to do just that, and we look forward to contributing to this noteworthy effort.”

Barbara Buchner, Global Managing Director, Climate Policy Initiative said, “Climate Policy Initiative is proud to join the Global Capacity Building Coalition and support the launch of this collaborative digital platform. Strengthening the capacity of financial institutions and local governments, particularly in emerging markets, is essential to mobilizing the trillions needed for the climate emergency. By collaborating with partners across the globe, we can ensure that resources, knowledge, and best practices are accessible to those leading the way in climate finance and ultimately help drive equitable, sustainable economic growth and resilience worldwide.

Lisa Sachs, Director, Columbia Center on Sustainable Investment (CCSI) said, “GCBC’s Digital Platform could not be more timely, as the world’s governments review their financing commitments and call for a new financial framework. The Columbia Center on Sustainable Investment, with its longstanding thought leadership and proven track record in technical assistance and education, is proud to support the GCBC’s mission. GCBC is a pivotal opportunity to ensure climate finance reaches those who need it most, empowering leaders to drive systemic change.”

James Vaccaro, Executive Director, Climate Safe Lending Network (CSLN) said, “Climate Safe Lending Network is proud to become a member of the GCBC and will support this vital work by addressing the significant organisational and leadership challenges the net zero transition represents. “A successful transition will require behavioural change to support new business models, and a culture that supports innovation in each institution, alongside the requisite skills, knowledge, tools and data. The GCBC comes at a crucial time as financial institutions build up their capacity to deliver a rapid transition in a challenging global context. Climate Safe Lending Network will build on its experience in delivering high-impact development programs and fellowships, working with leaders and intrapreneurs at every level, to make the most of the net zero opportunity in EMDEs.”

Harry Boyd-Carpenter, Managing Director, Climate Strategy and Delivery, European Bank for Reconstruction and Development (EBRD) said, “The EBRD is proud to support the GCBC’s Digital Platform, which will offer much-needed help to financial institutions in developing markets. This platform can become an important tool to empower our partner financial institutions on the ground to engage in climate finance efforts, and we are eager to see the benefits it will bring.”

Fatma Dirkes, President, European Banking & Financial Services Training Association (EBTN) said, “The European Banking & Financial Services Training Association (EBTN), the united voice of providers of vocational education and training in the financial industry and an international network of banking institutes, is proud to support GCBC’s work. EBTN is convinced that a successful Net Zero transition requires financial institutions globally to be equipped with the necessary knowledge and tools for the challenge. The GCBC aims to empower these institutions, particularly in EMDEs, where mobilizing climate finance has proven to be more challenging, by providing essential resources through the launch of its digital platform.”

Jo Paisley, President, GARP Risk Institute said, “We are proud to join GCBC in building a foundation for sustainable finance capacity globally. We have long recognized the importance of educating risk professionals on the urgent challenges posed by climate risk, and we believe this initiative will play a vital role in supporting our mission and GCBC’s alike.”

Mari Elka Pangestu, Special Envoy to President of Indonesia on G20 Bali Global Blended Finance Alliance (GBFA) said, “Capacity-building is crucial to mobilise climate capital, but its full potential remains untapped. Often, capacity-building is vaguely defined and lacks clear standards with very little South-South learning. The impact of capacity building is rarely monitored or reported, making it difficult to track how resources are allocated and leaving gaps in accountability.

The Global Blended Finance Alliance welcomes the launch of the GCBC and its digital platform and looks forward to working together on these critical issues. The platform will help identify duplication and areas of unmet demand, bring clarity and alignment on best practices, and concrete use cases for climate finance capacity building. It will also ensure members like the Alliance are delivering on their capacity building activities in the right way as we work to share learnings about blended finance best practice and successful examples with emerging markets governments and practitioners.”

Emily Healy, Finance Lead, Ellen MacArthur Foundation said, “The Ellen MacArthur Foundation is proud to support the work of the GCBC, contributing knowledge and resources to the new digital platform to support financial institutions, particularly in EMDEs, to mobilise capital towards circular economy solutions. This will be crucial to achieving the climate transition.”

Rémy Rioux, Chair, Finance in Common (FiCS) said, “Finance in Common (FiCS), the global coalition of public development banks (PDBs) recognizes the need for enhanced collaboration among technical assistance and capacity building providers for PDBs and other stakeholders. By establishing a knowledge hub on climate finance, the GCBC platform promotes knowledge sharing, best practices, and lessons learned among a diverse range of actors, including PDBs. FiCS supports the initiative and will encourage its members to contribute to its success.”

Fatma Dikes, Vice President, Frankfurt School of Finance & Management said, “Frankfurt School of Finance & Management is proud to support GCBC’s work, alongside almost 35 new global members, to address the lack of resources and information on how to efficiently and effectively finance the transition to net zero, particularly for EMDEs. Since the early 1990s, the Development Finance team of Frankfurt School has been committed to improving financial markets and increasing access to financial services worldwide. We recognize the challenges faced by EMDEs in mobilizing capital for the climate transition and believe through capacity building, we can empower their efforts to take action against climate change.”

Gerrit Sindermann, Executive Director, Green Digital Finance Alliance (GDFA) said, “The transition needed requires radical collaboration and knowledge and best practice sharing across all stakeholder groups, and the Global Capacity Building Coalition’s launch is an effective move in the right direction. The Green Digital Finance Alliance is proud to join and support this timely initiative, and to contribute its extensive experience with digitally enabled sustainable finance to accelerate the development of urgently needed capacity globally.”

Gabriel Azevedo, Chief Strategy Officer, IDB Invest said, “At IDB Invest, we seek to generate sustainable growth in Latin America and the Caribbean. Consolidating and sharing our knowledge on climate finance through a world-leading platform helps us strengthen our capacity-building efforts, explained Gabriel Azevedo, Chief Strategy Officer of IDB Invest. This platform will allow us to disseminate information and connect with and learn from other organizations, which will allow us to continue scaling up our impact in our region.”

Jordan Schwartz, Executive Vice President, Inter-American Development Bank said, “The launch of the Global Capacity Building Platform is a critical response to the urgent need to scale up climate finance and adaptation efforts across Latin America, the Caribbean, and beyond. Knowledge is the most valuable asset to empower our people and institutions in the fight against climate change. The IDB is proud to join forces with these leading institutions to train and upskill the next generation of climate finance leaders.”

Jamie Fergusson, Global Director, Climate Business, International Finance Corporation said, “Accelerating the transition to low-carbon, resilient and inclusive growth requires financial institutions to be equipped with the necessary knowledge and tools for the challenge. The World Bank Group is pleased to contribute some of our tools and trainings via this GCBC digital platform and support to these institutions in emerging markets.”

Jingdong Hua, Vice Chair, International Sustainability Standards Board (ISSB) said, “The IFRS Foundation welcomes initiatives to support the education and awareness around sustainability-related disclosure, as companies around the world adopt the ISSB Standards for the first time. We have been delighted to contribute some of our resources to GCBC’s hub and look forward to continuing to work together to help ensure investors receive decision-useful, comparable information about sustainability-related risks and opportunities.”

Sabine Mauderer, Chair, Network for Greening the Financial System (NGFS) said, “Financing a smooth transition to net zero will only work if knowledge is shared broadly in the financial community. The GCBC’s Digital Platform will be a valuable tool in this mission. The NGFS congratulates the GCBC on launching its beta platform and looks forward to its further development.”

Marcos Neto, Assistant Secretary General, Assistant Administrator and Director, Bureau for Policy and Programme Support of the United Nations Development Programme (UNDP) said, “We welcome the launch of the platform of the Global Capacity-Building Coalition. The need for technical assistance and capacity building has been consistently identified as a top priority in the efforts to mobilize capital for the SDG’s. This platform can help amplify the reach of capacity building and technical assistance initiatives and uncover collaboration opportunities among technical assistance providers to promote interoperability in financial markets.”

Eric Usher, Head, United Nations Environment Programme’s Finance Initiative (UNEP FI) said, “Institutional capacity is one of the key challenges that many financial institutions in EMDEs face as they are looking to advance their path to net zero. As the UN’s leading convenor of climate action in the financial sector and a founding member of the Global Capacity Building Coalition, UNEP FI is thrilled to see the GCBC getting going and including many of our cutting-edge resources in areas such as impact analysis, risk management, and target setting. We firmly believe that via this new channel these resources can reach new audiences and help accelerate capacity-building for financial institutions in EMDEs.”

Lamia Merzouk, Vice Chair, World Alliance of International Financial Centers (WAIFC) said, “The WAIFC is thrilled to join the Global Capacity Building Coalition. This collaboration aligns perfectly with our commitment to a sustainable financial sector. Mobilizing capital, putting in place a conducive business environment as well as developing knowledge and talent are crucial for achieving a successful net-zero transition. Financial centers, thanks to their clustering and catalyst effects, can play an instrumental role in driving such an ambitious agenda. We look forward to teaming up with the GCBC members to build a stronger, more inclusive, and sustainable financial ecosystem.”

The Global Capacity Building Coalition (GCBC) is an unprecedented global initiative. It brings together many of the world’s leading climate finance organizations to accelerate and scale climate and transition finance capacity building for financial institutions and finance professionals, particularly in emerging markets and developing economies (EMDEs). The Coalition is designed to enhance collaboration and respond to growing requests for capacity building support from financial institutions in EMDEs to meet the aims of the UN and the G20 Sustainable Finance Working Group (SFWG).
The GCBC was launched by the U.N. Secretary-General’s Special Envoy on Climate Ambition and Solutions Michael R. Bloomberg, alongside senior leaders of multilateral development banks, finance, and international organizations at COP28 in December 2023.