Emerging markets and developing economies face a pressing challenge: driving climate action while ensuring universal energy access, resilience, and economic growth. Small and medium enterprises (SMEs) are critical to this effort, yet they are often held back by complex financial barriers. As the world prepares for the New Collective Quantified Goal (NCQG) on climate finance and pushes to triple renewable energy capacity by 2030, the need for practical, scalable financial solutions is more urgent than ever.

SMEs leading clean energy and adaptation projects are confronted with significant risks and limited access to finance. Early-stage funding is scarce, and private equity and debt options often come with high costs and restrictive terms. Catalytic capital, which mitigates risk and provides early-stage support, offers a direct path to overcoming these hurdles. By focusing on actionable solutions, this session will examine where catalytic capital is working, where it’s falling short, and how we can scale finance to accelerate climate action.

This official side event at COP29 in Baku, Azerbaijan, hosted by REEEP, Acumen, CEEW, and RMI, will deliver key takeaways on effective financial mechanisms for clean energy and adaptation. It will begin with a framing fireside chat featuring a leading energy entrepreneur, offering a real-world example of overcoming financial barriers. An expert panel of finance leaders, policy experts, and energy innovators will then share success stories and pinpoint gaps, offering tangible solutions to scale clean energy in developing markets.

Attendees will leave with practical insights into how blended finance, credit guarantees, and concessional loans are unlocking private investment. The discussion will focus on where and why these tools are succeeding and, more importantly, how we can replicate and expand these models to create jobs, strengthen food security through climate-resilient agriculture, improve energy access, and cut emissions across the Global South.