FiCS, CAF, BNDES and iCS launch a Thematic Coalition to Support the Global Energy Transition

At COP30 in Belém, the Finance in Common (FiCS) initiative, the Development Bank of Latin America and the Caribbean (CAF), the Brazilian Development Bank (BNDES) and Instituto Clima e Sociedade (iCS) are pleased to announce the launch of the FiCS Coalition to Support the Global Energy Transition on Energy Day at the BNDES pavilion.

Mobilizing investment in energy efficiency in emerging and developing economies remains one of the most critical and persistent challenges to achieving the SDGs and the Paris Agreement. Despite the significant economic and social benefits of energy efficiency -such as reduced emissions, enhanced competitiveness, and improved energy security- high upfront costs, fragmented markets, and limited access to tailored financial instruments continue to hold back large-scale deployment.

Public Development Banks (PDBs) can play a pivotal catalytic role in addressing these barriers, particularly in emerging and developing economies. With more than US $5 trillion in assets and a deep understanding of local markets, PDBs can mobilize capital and channel resources toward high-impact projects. Building on the discussions held at COP28, the FiCS Summit in Cape Town, and other major international gatherings, this initiative seeks to establish a dedicated platform for PDBs to collaborate, share best practices, and accelerate progress toward global efficiency and sustainability goals.

The launch of this initiative comes at a critical moment. Global commitments - most notably the decision at COP28 to double energy efficiency improvements by 2030, reaffirmed by the G7 and G20- have created renewed political focus on implementation. The Coalition aims to help translate this focus into practical investment and delivery pathways, complementing the wider efforts showcased at COP30 in Belém to support a just and inclusive global energy transition.

Through the FiCS Energy Transition Coalition, we pursue three collective objectives: (1) expand energy access in collaboration with initiatives like Mission300; (2) mainstream energy efficiency and developing guidance on financial instruments for sovereign, concessional, and budget-supported projects, building on the PEEB toolkit; and (3) advance industry decarbonization by supporting PDBs in reducing emissions in hard-to-abate sectors through innovation, policy dialogue, and collaboration with partners such as GRA, GSC, GFANZ, and Meridiam.

To deliver these objectives, the Coalition will work across a range of national and regional mechanisms, with Country Platforms serving as an important enabler of coordination and impact. It will alsopromote financial and technical innovation through the FiCS Innovation Lab and Global Guarantee Platform, strengthen South-South knowledge exchange, and enhance data availability and transparency to reinforce accountability and attract private capital.

To support this work and ensure broad ownership, the Coalition will adopt a governance model that reflects regional diversity. Recognising the prominent role of the LAC region in global processes leading up to COP30, the initial set of co-chairs will come from the region. Each thematic pillar will be led by Public Development Banks and partners from other regions to ensure balanced representation and enable the exchange of lessons learned and success factors. Over time, a rotational system of geographic chairs will reinforce cross-regional collaboration and ensure that the nuances and transition priorities of each region are reflected in the Coalition’s work.

At COP30 in Belém, we reaffirm our shared commitment to advancing a just and inclusive energy transition and invite all Public Development Banks and partners to join us in mobilizing knowledge, capital, and collaboration for sustainable energy worldwide.