What is the TAP?
The Transformative Actions Program (TAP) is an innovative initiative that aims to catalyze and improve capital flows to cities, towns, and regions, and strengthen their capacity to access climate finance and attract investment.
Through the TAP and its partners, local and regional governments can receive support to develop their infrastructure concepts into highly transformative, mature, robust, and bankable projects ready for financing and implementation. The TAP connects local and regional governments, technical experts, and financial institutions.
The call for project applications closed on 15 December 2019.
Why the TAP?
Funds for climate projects are available and investors are ready; however, there is shortage of bankable projects.
A “bankable” project is not just “profitable”: it quantifies the projected positive outcomes, such as social or environmental benefits, and has clear mechanisms for implementation and evaluation.
The TAP therefore strives to help local governments’ projects improve their bankability by increasing their visibility to potential investors, connecting them to project preparation facilities, or helping them connect with specifics tools or services that can increase the maturity of their proposed concept.
The four TAP pillars
The TAP Project Pipeline serves as an incubator, collecting and screening applications based on their “transformative” potential. TAP projects bearing the TAP seal of approval can benefit from TAP Services, connect to project preparation facilities, and be displayed on the TAP and other platforms.
Local and regional governments have access to tailor-made services from ICLEI and TAP partners during the whole project cycle, from early stage project definition to long-term mentoring, with the aim of developing robust and bankable project concepts. TAP partners engage either financially or technically, supporting capacity building, developing feasibility studies, and guiding the finance and design of sustainable and resilient infrastructure.
The online TAP Platform displays select applications in the pipeline in a centralized, uniform format that optimizes visibility to potential investors and funders.
It is a first stop for funders as well as local and regional governments seeking information on ambitious and transformative local infrastructure projects committed to low-to-no emission and climate-resilient development.
TAP is an advocacy tool that presents the demand and diversity of local infrastructure projects, promotes multi-level governance, and calls for effective financing mechanisms to scale up climate action.
Through its four pillars, the TAP works to:
- Provide evaluation, feedback, and quality assurance services for transformative action project proposals.
- Lower the barrier to effective and efficient cooperation between local and regional governments, and public and private financial institutions.
- Build trust among local and regional governments, financial institutions, and investors to lower risk.
- Contribute to the creation of new financing mechanisms and the improvement of existing instruments.
- Strengthen the impact of local climate projects and better position local and regional governments to attract investment and funding.
- Raise the visibility of transformative actions and innovative local financing mechanisms to encourage investment, funding, and replication.