Asia Climate Solutions Design Grant – Convergence

Enriched impact-investor · Found: 2026-04-20 13:14

Early-stage design grants for high-impact climate financing solutions in emerging markets in Asia. Aims to mobilize private capital into climate mitigation and adaptation sectors. Next application intake to be announced.

Source: https://www.convergence.finance/accelerator/acs

Funding Details

Funder

Convergence Blended Finance

Funding Goal

Provide early-stage catalytic grants to develop innovative blended finance solutions for high-impact climate financing in emerging markets in Asia. Focus on mobilizing private capital for climate mitigation and adaptation in the blue economy, clean energy, and sustainable cities/infrastructure sectors across developing Asia.

Funding Amount

Feasibility Study: up to USD $200,000 (non-repayable). Proof-of-Concept: up to USD $300,000 (non-repayable or conditionally repayable). Funded by MAS, DFAT Australia, Olayan Group, UBS Optimus Foundation, and The Rockefeller Foundation. (up to 300.000 €)

Deadline

2026-01-18 (periodic)

How to Apply

Application via Convergence online portal. Process: Step 1 — Concept Note (deadline January 18, 2026, rolling review); Step 2 — Full Proposal by invitation (deadline February 20, 2026); Steps 3–6 — Due diligence, Investment Committee, and contracting (February–May 2026). Apply at: https://www.convergence.finance/accelerator/acs/apply

Target Region

Developing markets in Asia-Pacific (per OECD-DAC classification). Lead organizations do not need to be domiciled in target markets but end beneficiaries must be.

Contact

Convergence Blended Finance; contact via https://www.convergence.finance/contact

Last Checked

2026-04-20 13:40

Application Checklist

Eligibility

• Applicants do not need to be domiciled in target markets; end beneficiaries must be

Project Scope

• Solution must be a blended finance financial instrument (fund, vehicle, bond, facility, etc.)
• Must target climate mitigation and/or adaptation in developing Asia-Pacific markets
• Thematic focus for Cycle 4: blue economy, clean energy, or sustainable cities/infrastructure
• Vehicle must demonstrate potential to drive private capital at scale

Required Documents

• Lead organization must provide proof of incorporation and financial statements (2 years)

Constraints

• Only one application per organization per funding cycle
• All proposals must be submitted in English

Summary

The Asia Climate Solutions (ACS) Design Grant, managed by Convergence Blended Finance, provides early-stage catalytic grant funding to develop innovative blended finance solutions for climate action in developing Asia. The programme is in its fourth grant cycle (Cycle 4) and is supported by the Monetary Authority of Singapore (MAS), DFAT Australia, Olayan Group, UBS Optimus Foundation, and The Rockefeller Foundation. Programme objectives are to mobilize private capital at scale for climate mitigation and adaptation in high-priority underserved sectors across developing Asia. The programme addresses an estimated USD $800 billion annual financing gap for climate action in developing Asia (per the IMF). Thematic scope for the current cycle specifically focuses on: (1) Blue Economy — sustainable fisheries and aquaculture, coastal protection, blue carbon, eco-tourism, climate-related insurance and disaster resilience; (2) Clean Energy Transition — renewable energy, energy efficiency, energy transmission and storage; (3) Sustainable Cities and Infrastructure — sustainable housing, low-carbon transport, waste and wastewater management, urban nature-based solutions. Eligible activities include feasibility studies and proof-of-concept work for blended finance vehicles — specifically legal and financial structuring, market scoping, pipeline development, fundraising, and impact measurement. The proposed solution must be a financial instrument (fund, project finance vehicle, bond, results-based financing, facility, etc.) with a blended finance structure. Geographic scope covers developing markets in Asia-Pacific. Organizations do not need to be based in target markets but end beneficiaries must be in developing Asia. Eligible applicants are organizations or consortia: asset owners, asset managers, advisory firms, foundations, not-for-profits, and private enterprises. Grant amounts range from USD $200,000 (feasibility) to USD $300,000 (proof-of-concept). The current cycle 4 concept note deadline was January 18, 2026 — the current round is now in late-stage evaluation (contracting expected May 2026).

Historical Context

Asia Climate Solutions Design Grant is in its 4th grant cycle (ACS Cycle 4). Supported by MAS (Monetary Authority of Singapore), DFAT Australia, Olayan Group, UBS Optimus Foundation, and The Rockefeller Foundation. Previous cycles have supported blue economy, clean energy, and sustainable cities projects. The programme operates on an annual cycle basis.

Why it was added

discovered from funder #16: Convergence – Blended Finance Platform

Sources

• https://www.convergence.finance/accelerator/acs
• https://www.convergence.finance/accelerator/acs/apply

Similar Programs

← Back to list