Why CCMM
We are on the edge of a global precipice. Every day we face weather shocks, rising sea levels, and skyrocketing temperatures. We must transform our economies and societies now for both people and the planet.
The scale of finance we need is massive and public finance alone does not suffice. To keep global temperatures to 1.5 degrees above pre-industrial levels by 2050, as envisaged by the Paris Agreement, we must mobilize six times our current funds, according to the non-profit Climate Policy Initiative. That’s about $8.5 to $10 trillion annually.
To act at the pace and scale required, key sources of finance like CTF must be rapidly scaled up. Early and accelerated investment now will make all the difference. CCMM is designed to deliver this scale.
How CCMM Works
By accessing international capital markets, CCMM enables the "front-loading" of benefits from the CTF loan portfolio and other investments, allowing new climate finance to be swiftly unlocked at scale, without having to wait for long-term reflows in the future.
CTF loans have a tenor of up to 40 years with a repayment moratorium of up to 10 years. To free up funds for investment now, CCMM will issue bonds secured against these loans, making finance available sooner rather than waiting for the long-term reflows.
The World Bank is Trustee and Treasury Manager, overseeing bond issuances, liquidity management, financial risk management, credit rating management, and financial reporting.
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HOW CCMM WORKS
THE CLEAN TECHNOLOGY FUND’S IMPACT
The Clean Technology Fund (CTF) enables clean energy transformation in developing countries. It provides resources to scale up low-carbon technologies with significant potential for long-term greenhouse gas emissions savings. The fund supports a wide array of clean technologies across different areas, including renewable energy, energy efficiency (of buildings, agriculture, and industry), and clean transport.
CTF Key Results
Please note: not all projects contribute to all indicators
INDICATOR
CURRENT RESULTS
TARGET
Annual GHG reductions/avoided
39.3MtCO2
65projects reporting
TARGET:85MtCO2
TARGET:129projects
65projects reporting
TARGET:129projects
Cumulative Co-Financing Mobilized (USD)
$31.3billion
92projects reporting
TARGET:$59billion
TARGET:117projects
92projects reporting
TARGET:117projects
Cumulative Installed Capacity
22.8GW
49projects reporting
TARGET:32.3GW
TARGET:84projects
49projects reporting
TARGET:84projects
Annual Energy Savings
6,136GWh/yr
24projects reporting
TARGET:13,569GWh/yr
TARGET:35projects
24projects reporting
TARGET:35projects
- 0%
- 20%
- 40%
- 60%
- 80%
- 100%
| INDICATOR | CURRENT RESULTS | TARGET |
|---|---|---|
| Annual GHG reductions/avoided | 39.3 MtCO2 | 85 MtCO2 |
| 65 projects reporting | 129 projects | |
| Cumulative Co-Financing Mobilized (USD) | $31.3 billion | 59 billion |
| 92 projects reporting | 117 projects | |
| Cumulative Installed Capacity | 22.8 GW | 32.3 GW |
| 49 projects reporting | 84 projects | |
| Annual Energy Savings | 6,136 GWh/yr | 13,569 GWh/yr |
| 24 projects reporting | 35 projects |
NO. OF CIF-APPROVED PROJECTS
164
ctf Approved Funding
$5.2B
EXPECTED CO-FINANCING
$57.3B
SOURCES OF EXPECTED CO-FINANCING
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Government
$7.2 B
Bilateral / others
$14.7 B
MDB
$16.5 B
Private sector
$19 B
| Source | Data |
|---|---|
| Government | $7.2 B |
| Bilateral / others | $14.7 B |
| MDB | $16.5 B |
| Private sector | $19 B |
ctf REGIONS
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Asia
31%
Europe & Central Asia
19%
Global
3%
Latin America & Caribbean
16%
Middle East & North Africa
15%
Sub-Saharan Africa
16%
| Region | Data |
|---|---|
| Asia | 31% |
| Europe & Central Asia | 19% |
| Global | 3% |
| Latin America & Caribbean | 16% |
| Middle East & North Africa | 15% |
| Sub-Saharan Africa | 16% |
ctf SECTORS AND TECHNOLOGIES
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Renewable Energy
62%
Renewable Energy / Energy Efficiency
15%
Energy Efficiency
14%
Transport
6%
Energy Storage
4%
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Solar
50%
Geothermal
18%
Mixed RE
14%
Wind
10%
Hydropower
3%
Multiple
3%
Green Hydrogen
1%
Bioenergy
<1%
Waste to Energy
<1%
Others
<1%
| Sector | Data |
|---|---|
| Renewable Energy | 62% |
| Renewable Energy / Energy Efficiency | 15% |
| Energy Efficiency | 14% |
| Transport | 6% |
| Energy Storage | 4% |
| Technology | Data |
|---|---|
| Solar | 50% |
| Geothermal | 18% |
| Mixed RE | 14% |
| Wind | 10% |
| Hydropower | 3% |
| Multiple | 3% |
| Green Hydrogen | 1% |
| Bioenergy | <1% |
| Waste to Energy | <1% |
| Others | <1% |
Data as of December 31, 2023
IMPACT STORIES
Press releases
FEATURED PUBLICATIONS
GET MORE INFORMATION
To be updated on the developments with the launch and pricing of the CCMM’s inaugural bond issue, please email your contact details to ccmmtreasury@worldbank.org.
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