A network composed of research institutions, public administration, business, and foundations has received €20 million in EU funding to accelerate climate solutions. The role of the TAH Foundation in this initiative is to pilot a funding model aimed at scaling up climate innovations more rapidly.
The purpose of the Accelerating Climate Efforts and investments (ACE) is to support Finland in achieving its emissions reduction obligations by 2030 and its carbon neutrality target by 2035. The TAH Foundation leads one component of the ACE initiative, focusing on scaling up climate innovations.
Currently, the landscape of climate innovation funding in Finland is fragmented, and aligning funding needs with suitable financing options is not always straightforward and conducive to expansion. Particularly in the early stages, the path of a promising demonstration project to become a national or international innovation can be hindered by various funding bottlenecks, resulting in unrealized emissions reductions.
Collaboration and International Examples
The project led by the TAH Foundation aims to find solutions to address these bottlenecks. By exploring international examples, the project seeks to identify how non-profit organizations can best support business and innovation activities aimed at emissions reductions and to what extent these mechanisms can be adopted in Finland.
The TAH Foundation also invites foundations and other private and public actors in the financial sector to explore ways of combining resources to upscale Finnish climate innovations.
As climate innovations scale, they not only generate direct economic benefits but also contribute to emissions reductions, thereby laying the groundwork for well-being for future generations. Therefore, it would be beneficial to review the funding criteria, return objectives, and risk management of climate innovation in this comprehensive sustainability perspective.
If you are interested in climate innovation funding and wish to find ways to collaborate, please contact Auli Nikkilä, Climate Funding Specialist at the TAH Foundation ().
For more information about the ACE initiative, visit the website (currently in Finnish only).
