The Lab comprised of 30-40 selected experts from investors, banks, development finance institutions, foundations, governments, innovators and intermediaries.
The objectives of the practitioner lab Climate include;
- Transforming challenges for your organization into innovative financial products
- Learning from peers and gathering expert insights & lessons learned
- Jointly developing tangible financial products as a result of the co-creation process
- Developing robust financial products leading to a process of change and innovation in the sector or the organization
- Transforming sector-specific challenges into innovative financial products supported by trusted peers and their insights.
- Getting invaluable insights and lessons from climate finance stakeholders on continuous basis in specific working groups.
The Lab catalyzed the key challenges such as limited knowledge and information on irrigation farming (its value added) in the financial sector and micro insurance delivery through weather indexing by drawing on experience and expertise from practitioners to identify, prototype, and design the next generation of climate finance products.
The prototyped products provided concrete solutions to challenges faced in climate finance, building new mechanisms and attracted new financing to increase the ideal flow into climate-smart enterprises and projects.