Scaling Capital for Sustainable Development (SCALED)

SCALED is an international multi-stakeholder initiative launched in October 2024 at the first Hamburg Sustainability Conference, with the objective of mobilising large-scale private investment to help close the SDG financing gap in emerging markets and developing economies (EMDEs). Formerly known as the Hamburg Sustainability Platform, the initiative was initiated by the governments of Canada, Denmark, France, Germany, South Africa and the United Kingdom, together with leading institutional investors including Allianz SE and La Caisse (formerly CDPQ). Since its launch, AXA SA and Zurich Insurance Group have joined the initiative, with the OECD and the Inter-American Development Bank acting as knowledge partners.

SCALED aims to address persistent structural bottlenecks in the blended finance market by streamlining and scaling the development of public–private investment vehicles. Central to the initiative is the creation of a first-of-its-kind specialised entity that will support the design, structuring, and management of blended finance vehicles in close cooperation with public investors and large institutional asset owners. By standardising requirements, vehicle types, capital structures, and processes - including impact measurement and reporting - SCALED seeks to reduce transaction costs, accelerate deal execution, and make blended finance more accessible and scalable for institutional investors. Depending on public and private funding commitments, the initiative has the potential to mobilise total fund volumes of USD 15 billion or more over the next decade, assuming leverage ratios of 1:5 to 1:10, and to launch multiple blended finance vehicles per year once fully operational from 2026.