New partnership to mobilise private capital for climate solutions in emerging markets

Just Climate and the Green Climate Fund (GCF) announced the signing of a Memorandum of Understanding (MoU) on 14 November 2025 to collaborate on mobilising private institutional capital for investment in climate solutions in developing countries and emerging markets.  

Just Climate, the investment business established by Generation Investment Management to scale solutions for the highest-emitting, most off-track sectors of the economy, and GCF, the world’s climate fund for developing countries, aim to explore new opportunities to channel institutional capital into underserved markets and high-impact projects.  

These opportunities range from renewable energy and sustainable infrastructure to nature-based solutions. This collaboration aims to combine Just Climate’s investment expertise with GCF’s mandate and resources to accelerate funding for transformative solutions in developing regions, including Latin America and Asia. Just Climate and GCF plan to attract private capital for high-impact climate solutions by exploring various investment strategies and sharing knowledge along with impact standards.  

This announcement at COP30 comes at an important moment for climate finance. Funding for climate solutions in emerging markets remains far from what is needed to meet the goals of the Paris Agreement. GCF, as an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC), is mandated to support low-emission, climate-resilient development pathways. Through this partnership, Just Climate and GCF aim to leverage private-sector investment and expertise to close the climate finance gap in emerging markets.  

Clara Barby CBE, Senior Partner of Just Climate, said: “Finance flowing to address the climate crisis is woefully off track. If you look at the proportion of that finance that is going to emerging markets, we are off track even more, yet the challenge and opportunity of decarbonisation lie in countries across Latin America and Asia. By working together with the Green Climate Fund, we aim to increase the level of finance flowing to transformational climate solutions across emerging markets – to decarbonise industries and transition land management. By working together and with local communities, we aim to achieve more.” 

Henry Gonzalez, Chief Investment Officer of Green Climate Fund, said: “The Green Climate Fund is committed to supporting country ownership and enabling low-emission, climate-resilient development pathways. We welcome collaboration with Just Climate, whose experience in structuring high-impact finance and advancing rigorous impact practices complements GCF’s convening role. Together with country institutions and local communities, we will work to help translate ambition into investable programmes and measurable outcomes, with a focus on mobilising private capital for climate action where it is most needed.”