Monitoring and Evaluation of the Climate Public Private Partnership Programme Phase II

The overall aim of the CP3 project is to increase the role of private sector finance in driving low carbon, climate resilient growth in developing countries. CP3 aims to increase the amount of funding in Private Equity (PE) in the climate friendly space both by directly funding two commercially run PE Funds (who in turn fund sub funds and projects which would therefore be able to conclude their investments) and thus inducing a leveraging effect, i.e. bringing on board other donors and other institutional investors (sovereign wealth funds, pension funds and insurance funds), as well as by making direct investments in the climate area. This will also have a “demonstration effect”, showing that PE climate investment (and climate projects in general), have good financial risk and return, thereby helping the climate friendly market to grow faster. As such, CP3 will stimulate low carbon sustainable growth in developing countries. The objective of this assignment is to assess the success of the CP3 programme in driving low-carbon, climate resilient growth in developing countries. We will capture, through on-going monitoring, the results of the programme as set out in the log frame and test the original theory of change model and its underlying assumptions. Several impact dimensions will be assessed, including among others, success in leveraging private investments for climate mitigation and adaptation, human development impacts, as well as transformational impacts such as the creation of financial infrastructure and the development of local capital markets that can help lever additional private investment. Where appropriate, opportunities for improvement will be identified and communicated on an ongoing basis to refocus efforts where necessary and to inform similar projects.