Catalysing private finance to maximize mitigation and adaptation impacts.

Among China’s provinces, Shandong has the highest energy consumption and is one of the most carbon-intensive - driven by its high use of coal as an energy source for its large industrial base. Limited public finance makes it difficult to meet the province’s goals to green its economy.

This project will catalyse private finance by offering adequate returns thanks to the blending of public finance, concessional donor finance, and private finance. It will support investments that maximise mitigation and adaptation initiatives across several sectors, in line with Shandong’s mitigation and adaptation policies, while tapping co-financing 7.3 times GCF’s contribution.