Unlocking Climate Finance: Belize’s New Strategy Engages Private Sector

Belize has unveiled a new strategy to enhance private sector investment in climate action, developed with support from the UNEP Copenhagen Climate Centre and funded by the NDC Partnership.
The strategy aims to unlock new sources of climate finance and accelerate the country’s progress toward achieving its Nationally Determined Contributions (NDCs) under the Paris Agreement.

The NDC Private Sector Investment Strategy - Improving private sector investment in climate action in Belize outlines a roadmap for mobilizing private capital through blended finance approaches, policy reforms, and capacity-building initiatives. It identifies key sectors—such as renewable energy, energy efficiency, and climate-resilient agriculture—where private investment can have the greatest impact.

Aligning Efforts for Greater Impact

"The recommendations in this strategy aim to leverage blended finance approaches for climate investments, mobilize additional private sector resources, and significantly increase the contribution of private entities to national climate finance flows. By aligning public and private sector efforts, Belize can advance its commitments under the Paris Agreement by narrowing the climate finance gap, while ensuring sustainable economic development," said Orlando Habet, Minister of Sustainable Development, Climate Change & Solid Waste Management, Belize.

The strategy was developed through extensive stakeholder engagement, including consultations with government agencies, financial institutions, and private enterprises. It also provides practical tools and recommendations to create an enabling environment for investment, such as risk-sharing mechanisms, regulatory improvements, and targeted incentives.

Driving Climate and Development Goals

By strengthening collaboration between the public and private sectors, the strategy aims to increase the share of private sector contribution to climate finance in Belize from 3% to 15.4% by mobilizing an additional $263,695,000 in private sector investments by 2030, substantially reducing the NDC finance gap. It also contributes to broader sustainable development goals by promoting green growth and inclusive economic opportunities.

By following the recommendations described in the NDC Private Sector Investment Strategy, enabling environments will be created, improving private sector investments in climate action in Belize by 2030 and beyond, to leverage blended finance for climate investments.