- Buy-in from operational departments is crucial to making climate part of “business-as-usual”. Embedding climate staff throughout the organization has been an effective way to build capacity and bench-strength across departments to identify and place climate deals.
- Clear operational targets tied to staff performance and incentives are important in getting investment staff to seek out climate smart opportunities. Investment staff must prioritize among competing demands and from a wide range of development objectives and prospective business. Incorporating climate on departmental scorecards created an incentive for staff to find climate business opportunities.
- Clear and easily definable guidelines on what qualifies as a climate project help build momentum for climate business. IFC’s most successful climate business is in areas where we have clearly defined metrics and definitions for climate business. This reduces transaction costs and time to complete an investment and get it formally recognized.
- A centralized climate staff is key to provide the tools, strategy and support to build climate business.