Unlocking Alpha in Climate: Private Credit and the “Missing Middle”

Despite the rapid growth in global climate finance, a large segment of the climate economy remains undercapitalized, leaving many emerging technologies and established operating businesses stranded in the “missing middle.” Scaling these emerging technologies represents $100-$200 billion deployment opportunity for growth capital.

Understanding the Climate Finance Gap: 2025 Update

Understanding the Climate Finance Gap: 2025 Update examines how global climate markets are evolving and what investors must do to close the gap. The paper identifies six imperatives for climate investors, including expanding private debt, unlocking growth equity for scale-ready technologies, and backing emerging managers poised to drive innovation.

Understanding the Climate Gap

The private sector has a tremendous opportunity to capitalize on the growing momentum in global climate and sustainability (“climate”) finance.