Under the ADMIRE project, climate friendly initiatives have created impact beyond their reach by leveraging funds equalling to more than 15 times the initial investment.
If we are to reach the global climate goals, investment and implementation of green technology and climate actions need to speed up drastically.
Working to actively engage all sectors in that process, UNEP DTU Partnership has facilitated more than 52 million USD of funding in project initiatives under the ADMIRE project.
The Adaptation Mitigation Readiness (ADMIRE) project is funded by the Danish aid agency Danida with the aim of creating commercially viable business models for climate action. It is based on the fact that private investments are key to reach the goals in the Paris Agreement and avoid a global climate disaster.
With a funding of 3,3 million USD from Danida, UNEP DTU Partnership has managed to attract capital of 52,5 million USD, ensuring that the Danida investment is punching well above its weight.
The Danida support was aimed at fostering development while at the same time supporting climate action, and ADMIRE has now attracted funding from development banks, private sector entities and foundations.
A 15-fold increase
By using public funds from Danida to leverage private and public capital, ADMIRE has achieved a more than 15-fold increase of the initial investment.
A number set to grow in the near future.
The 52,5 million USD so far attracted represents a snapshot of the current results. As several projects under ADMIRE are still running, the amount only represents six out of the initial 14 ADMIRE project initiatives.
Already some of the projects have reached a point, where they no longer rely on funding by ADMIRE or outside investors, but can continue on purely market terms.
Getting the private sector involved
The ADMIRE programme started in 2014, solely funded by Danida, and aims to involve the private sector in climate mitigation and adaptation by developing investment opportunities in climate friendly sectors in countries in the developing world.
It aims to support initiatives that boost private sector engagement in climate change mitigation and adaptation by designing replicable, scalable and commercially viable business solutions.
The business approach is meant to ensure that the developed actions do not become a one-time occurrence only while there is project financing available and will not cause market distortions.
To ensure this, ADMIRE works in partnership with the private sector, the financial sector and public institutions.
Opening a door for funding
Creating partnerships and other forms of involvement of the private sector is a key area of UNEP DTU Partnership’s work.
The funding that constitutes the 52,5 million USD is being invested either directly through ADMIRE project and partners or in business components developed in the ADMIRE project. All funding has been facilitated directly or indirectly through the involvement of UNEP DTU Partnership in the ADMIRE project.
By creating replicable and scalable business models, ADMIRE opens the door for climate action to access new sources of funding, and creates projects that eventually turn in to viable businesses, contributing to development and spreading sustainable business solutions. More importantly it improves lives of people living in the developing world.
Building on lessons and successes of the ADMIRE project, UNEP DTU Partnership is seeking opportunities to continue in its work.