Authors

• Finance for Development Lab (FDL) | findevlab.org
• Coalition for Capacity on Climate Action | climatecapacitycoalition.org

Abstract

Country platforms are coordination mechanisms set up by developing countries to mobilize domestic and international financing sources for shared climate and development objectives. In a sense, such an approach is far from new, but it has been reinvigorated by the scale of investment needs in development and climate, which are estimated to require trillions of dollars annually in Emerging Markets and Developing Economies (EMDEs).

At the same time, a “next generation” of country platforms is emerging, sharing three core elements:

• A political commitment around an ambitious trajectory anchored in national climate and development priorities;
• The alignment of an investment plan on this trajectory; 
• Coordination across domestic and foreign financial institutions to mobilize funding at the required scale.

Various combinations of these elements were already present in past investment plans, but what may differentiate this generation of platforms from earlier ones is the combined focus on climate and development. This implies ambition, with platforms supporting comprehensive strategies to deeply transform national economies so that countries can achieve their climate and development objectives.

Enabling structural change may be one of the key tenets of the development process. Given the profound social and political implications of climate change, mitigation of carbon emissions, and investments in adaptation, platforms will only be successful and legitimate if governments are in the driver’s seat. This will require strong planning capacities, as well as the ability to remain flexible and react to opportunities over the long term. Platforms should ensure strong internal alignment with the country’s political agenda and government agencies, alongside sound public financial management. 

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