Governo Italiano
Mission
The Italian Climate Fund represents the main public instrument to pursue Italy's commitment, together with other OECD countries, to collectively mobilize at least 100 billion euros per year in climate finance towards emerging and developing countries.
Established with the 2022 Budget Law, the instrument has a revolving nature and a total budget of. 4.4 billion euros (amount updated by Legislative Decree no. 181/2023, the so-called Energy Legislative Decree), in addition to 40 million euros per year from 2027 for non-repayable contributions and management expenses.
Objectives
The Fund aims to finance projects to combat climate change in countries receiving public development assistance identified by the OECD Development Assistance Committee (DAC).
Projects capable of reducing greenhouse gas emissions, (mitigation), and improving the capacity to absorb the impacts of climate change, (adaptation), will be selected as a priority. Projects to protect biodiversity and combat desertification will also be evaluated.
The fields of intervention are, among others: agriculture, energy, transport and water infrastructure.
Beneficiaries
- Italian and foreign companies
- Public entities, (e.g. governments and state companies), of partner countries
- Public and private financial institutions, and investment funds
