

IMCA, Investment Mobilisation Collaboration Alliance
IMCA on LinkedIn
Partners
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IMCA
A Joint Collaboration on Mobilising Climate Finance to Emerging and Developing Markets
Denmark, Finland, Sweden, Norway, and Iceland are spearheading a unique global partnership and pioneering solutions platform on mobilising large-scale private climate financing at speed and scale for emerging markets and developing countries. The Alliance aims to mobilise billions of USD in private capital to de-risk climate investments in mitigation, adaptation, biodiversity and nature before the end of 2025.
The Investment Mobilisation Collaboration Alliance (IMCA) is a unique international coordination mechanism that utilises an innovative public-private partnership approach to create concrete pipeline collaboration, support blended finance vehicles, and catalyse private capital for climate action into emerging markets and developing economies at scale and speed.

IMCA was launched at COP28 by the United States and Nordic governments as a new platform for providing blended finance solutions to the immense need for investments in climate mitigation, adaptation and nature in emerging markets, and developing economies. The International Energy Agency estimates that over $2 trillion is needed per year by 2030 just to reduce carbon emissions while addressing the growing energy demand from these markets and economies.

Objectives
IMCA aims to raise catalytic public financing on the scale of millions of USD and through this attract billions of USD from institutional and other private investors towards investments in emerging and developing economies. In alignment with the Developed Countries Climate Finance Delivery Plan to achieve the $100 billion annual climate investment target, IMCA is set to continue to progress to reflect the outcomes of COP29, where wealthy nations committed to provide $300 billion annually to developing countries under the New Collective Quantified Goal (NCQG), showcasing action towards a new international target for climate finance.
The approach is to increase collaboration across countries, FDIs, and asset owners through project pipeline coordination, collaborative tendering for asset managers for investing in climate and nature, but also, in due course, other SDG themes.
IMCA partners made their first announcement of joint support at COP28 under the Blended Finance for the Energy Transition (BFET) programme​. BFET​ is an initiative of the U.S. Department of State, in partnership with USAID, and with catalytic co-funding and support from the Government of Denmark and Investment Fund for Developing Countries (IFU). Catalytic grant funding from the BFET program is expected to mobilise USD billions of capital to advance emerging markets’ energy transition efforts and help limit global average temperature rise to 1.5°C.
The second tendering collaboration, the Adaptation Finance Window (AFW), was also launched at COP28 with a commitment of 100 million USD in guarantees from Swedish Sida and Danish IFU in combination with 5 million USD of grant funding available from USAID. The window has a target mobilisation of up to 500 million USD in private capital for adaptation investments. The focus will be on climate resilience of vulnerable people and communities, nature-based solutions, infrastructure and built environment, food and water security, and health.
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The third fund collaboration launched at COP29 will focus on value chains in energy transition in Africa and combines 70 million USD in guarantees from Sida, NORAD and IFU with grant funding from USAID. The target amount of private finance mobilised is hundreds of millions of USD in private capital for green value addition in the African continent in relation to the energy transition.

Achievements
Organisation

IMCA is a collaborative partnership between the Ministry of Foreign Affairs of Denmark along with Denmark’s Investment Fund for Developing Countries (IFU), the Ministry for Foreign Affairs of Sweden along with the Swedish International Development Cooperation Agency (Sida), the Ministry for Foreign Affairs of Finland, the Norwegian Agency for Development Cooperation (Norad), the Ministry for Foreign Affairs of Iceland, and the Nordic Development Fund (NDF). USAID was one of the founding partners of IMCA from its launch in 2023 until February 2025, when its participation ended following U.S. presidential general directives towards USAID. Dialogues with additional donor countries are ongoing and the initiative welcomes new partners.
World Climate Foundation acts as IMCA’s Operating Partner, with support from the Climate Investment Coalition. Furthermore, IMCA will collaborate with an Asset Owner Advisory Board for strategic support on scoping of possible transactions and private finance incentives.
Activities
IMCA initiates processes for originating climate finance transactions, including a specific geographic and/or thematic focus within green blended finance, for example clean energy, loss and damage, nature-based solutions, etc. The tendering, due diligence and contracting processes are scoped and managed by CFDA.

The work is divided into three workstreams: information sharing on transaction pipelines to facilitate cooperation, collaboration on calls for proposals on climate financing; and collaboration on calls for proposals on broader thematic areas such as education, health, fragility, etc.
IMCA will carry out its stakeholder engagement on key international events throughout the year.
The model attached shows the concept idea and actions in governance, workstreams and deliveries for IMCA so far.

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