混合融资支持气候转型，让优惠资金成为撬动私人资本的“缓冲垫”

Group 1 - The core viewpoint emphasizes the urgent need to enhance climate adaptation capabilities in response to extreme weather, with a focus on improving meteorological monitoring and disaster response infrastructure in northern regions of China [1] - The concept of "blended finance" is highlighted as a key mechanism to address the climate funding gap, which involves combining public and private capital to optimize risk-return structures for climate adaptation projects [2][5] - The urgency for increased climate adaptation funding is underscored by the commitment from developed countries to double their climate adaptation funding to developing countries by 2035, raising it from $40 billion to $120 billion annually [3] Group 2 - The report indicates that as of April 2025, developing countries have identified a total funding requirement of approximately $34 trillion for climate action, while only $60.84 billion has been secured, highlighting a significant funding shortfall [4] - Blended finance is described as a relatively new concept but has been practiced for decades, utilizing public funds and guarantees to lower project risks and attract private capital [6] - The role of public capital in blended finance is crucial, as it acts as a "buffer" to absorb risks and provide support for projects that are not yet commercially viable, thereby encouraging private investment [6][9] Group 3 - In China, the blended finance model faces challenges such as unclear definitions and mechanisms, resulting in limited scale compared to the vast funding needs for climate investment [7] - Specific examples of blended finance in China include the Shandong Green Development Fund, which integrates international development loans as concessional capital to attract more investment for green projects [8] - The effectiveness of government-led funds in China is questioned, as they often prefer to invest in established projects rather than high-risk, innovative climate technologies, which may lead to the crowding out of private capital [9][10] Group 4 - Future development of blended finance in China requires clear role definitions for different types of capital, ensuring public capital acts as a "lever" rather than a "crowd-out" force [10] - There is a call for development financial institutions to innovate and collaborate with multilateral development banks to enhance the use of blended finance tools [10] - Encouraging philanthropic funding and expanding the boundaries of commercial financial institutions to support climate-related investments is essential for improving overall financing efficiency in the climate sector [10]