Global investments accelerating local action for a sustainable future

The Subnational Climate Finance initiative (SCF) invests in mid-sized ($5-$75m USD) infrastructure projects, including sustainable energy, waste and sanitation, regenerative agriculture, and nature-based climate solutions. We partner primarily with subnational authorities to identify and implement these projects, financed with a blend of concessional and conventional capital, along with Technical Assistance grants that help mitigate risk and ensure financial and environmental goals are achieved.
Key components
SCF initiative integrates an investment fund of mid-sized infrastructure projects (SCF Fund) and a grant-funded dedicated to technical assistance facility (SCF Technical Assistance).
SCF Fund
The SCF Fund, managed by Pegasus Capital Advisors, will invest in a global portfolio of mid-sized infrastructure projects in the fields of sustainable energy, waste and sanitation, regenerative agriculture and nature-based solutions in developing countries. The Green Climate Fund (GCF) as an anchor investor and partner has already committed a first-loss tranche of up to USD 150 million, which is intended to mitigate risk at the fund level, thereby bridging the gap between public and private investors.
About SCF Fund
SCF Technical Assistance
A grant-funded dedicated technical assistance facility managed by the International Union for Conservation of Nature (IUCN) with a target size of USD 28 million, of which USD 18.5 million have already been committed by the Green Climate Fund. Through this facility, IUCN, with R20 and GS, will provide technical assistance in identifying suitable projects for the fund to invest in, and train implementers to ensure that projects are feasible and deliver environmental and social benefits in addition to financial performance.
About SCF Technical Assistance