P4G to grant climate finance of 4.7 million USD to 17 partnerships

P4G Summit (Hanoi, April 15-17, 2025), themed "Sustainable and people-centered green transition,” is the largest multilateral high-level event on green growth hosted by Vietnam in the 2021-2026 period. Vietnam Agriculture and Nature Newspaper (VAN) will update regularly Vietnam's strong commitments, proactive role and international responsibility at the P4G Summit.

This funding will assist startup businesses with climate finance in their early stages, enabling them to scale up climate solutions such as sustainable agriculture, food loss and waste reduction, energy storage solutions, and water security.

The early-stage funding and technical support model of the P4G forum addresses the urgent need to mobilize climate investments. By bridging the early-stage financing gap, startups can attract additional capital and drive systemic change in key sectors. By 2027, these partnerships aim to raise 42 million USD in investment collectively, create over 4,500 new jobs, benefit 830,000 people, and reduce around 450,000 tons of carbon emissions.

Startups can play a catalytic role in advancing the climate transition, yet they remain significantly underfunded," said Robyn McGuckin, Executive Director of P4G. "With P4G's specialized support, these startups will scale investable adaptation and mitigation solutions that will not only build resilience in climate-vulnerable regions but also create pathways for sustainable economic growth and private-sector investment."

Through the P4G Summit, startups can connect with NGOs and technical experts, thereby deepening their market understanding, business proofs, and strengthening the Environmental-Social-Governance (ESG) strategies. The climate finance for new P4G partnerships will focus on Colombia, Ethiopia, Indonesia, Kenya, South Africa, and Vietnam.

Startup partnerships also benefit from the national platforms of the P4G Group, including national public-private platforms. These partnerships provide real-world insights from startups and connect them with relevant authorities, facilitating policy dialogues and in-depth workshops, thereby creating a more favorable market environment for climate businesses.

Within the framework of the P4G collaboration, BATx – Fundación Socya is considered a model partnership. BATx's initiative uses financial resources to reduce waste from electric vehicles and scale up sustainable energy storage in Colombia and Latin America. By recycling expired lithium-ion batteries for reuse in energy storage systems, BATx is creating a circular economy that helps reduce waste and minimize environmental impact.

"BATx is poised to become a leading provider of energy storage solutions in Latin America," said Pablo Castellanos Ramelli, co-founder and COO of BATx. "P4G's support will help us scale rapidly, deliver cost-effective, second-life battery systems, and advance Colombia's renewable energy transition."

Previously, at COP29, developed countries approved a climate funding package for developing countries amounting to approximately 300 billion USD per year by 2035. However, experts argue that this scale of climate finance is still insufficient. As such, global leaders emphasized that stakeholders in the public-private sector, including governments, businesses, and financial institutions, must collaborate to mobilize 1.3 trillion USD per year by 2035.

The Partnering for Green Growth and the Global Goals 2030 Group (P4G) comprises nine member countries—Denmark, Vietnam, South Korea, Ethiopia, Kenya, Colombia, the Netherlands, Indonesia, and South Africa—and five international partner organizations. Since its founding in 2017, P4G has provided financial and technical support to small and micro enterprises in climate change mitigation and adaptation.