Catalytic Capital: Who Pays for System Change?

Transforming our economies toward climate resilience, circular systems, and inclusive growth requires investments that traditional markets often consider too early, too risky, or too complex. Catalytic capital, through blended finance and innovative risk-sharing mechanisms, can help bridge this gap by mobilizing private investment where it would otherwise not flow.

At the heart of the conversation lies a fundamental question: who should absorb early risk in order to unlock the large-scale capital needed for system change? Through concrete investment examples and honest discussion, the panel explores how catalytic capital structures can move beyond pilots and become core financial infrastructure for the transitions ahead.