There's a huge gap in financing for climate change initiatives around the world, and a new class of investors is hoping to fill it.
The 10th cohort of the Global Innovation Lab for Climate Finance, a public-private initiative, gathered last week in New York to endorse its 2024 class of innovative climate finance solutions, the New York Times reports.
The solutions range from building climate resilience in Latin America to providing affordable housing in India, according to a press release.
"We have been a proud supporter of the Global Innovation Lab for Climate Finance since its inception and are pleased with how it has helped drive investment into climate solutions for the past decade," says Ben Broche of the Climate Policy Initiative.
"Three years ago, we worked with the Lab to launch an inaugural window for climate adaptation to help elevate and stimulate ideas focused on building climate resilience," he adds.
"As we wrap up our first decade with the Lab, its lessons will help inform what the next decade of climate finance will look like and how we can get to the scale needed," says Barbara Buchner of the Climate Policy Initiative.
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In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.