Implementing the Green Swap for Development-Optimal Climate Finance

Many renewable energy projects are not viable in emerging markets and developing economies (EMDEs) due to the high cost of capital and scarce development resources. As a result, EMDEs continue to invest in fossil energy projects, locking in carbon-intensive infrastructure and undermining global climate efforts.

The Green Swap, a new financial instrument devised by a project team spanning Harvard Kennedy School’s Belfer Center and Center for International Development, could lower financing costs for renewable energy projects in EMDEs by disentangling the rewards and risks of climate and development finance.

This seminar will provide an overview of how the Green Swap works and how it can be implemented to mobilize more climate finance for EMDEs, with a particular focus on operationalizing carbon credit markets and addressing the challenge of proving additionality. Q&A to follow. Lunch will be served.

RSVP required. Those without a Harvard University ID will be required to check in with security upon arrival at Harvard Kennedy School.

Recording: A recording of the seminar will be made available on the Belfer Center's YouTube channel.

Questions? Contact Elizabeth Hanlon (ehanlon@hks.harvard.edu)

This seminar is part of Harvard Climate Action Week 2025 (September 15–21), a series of events that will convene our world-class faculty and leaders in business, government, and civil society. The week will culminate in the Salata Institute’s Harvard Climate Symposium: Pathways for Progress on Energy and Climate on September 19-21. Learn more: https://salatainstitute.harvard.edu/hcaw/