CCMM is an innovative issuer that raises private sector capital in the international capital markets to mobilize finance for climate action and sustainable development. Introduced at COP26, CCMM supports a wide range of CTF climate-related projects in developing countries, focusing on low-carbon technologies such as renewable energy, energy efficiency, sustainable transport, and green industry. The CTF aims to address the significant financing gap in climate action by mobilizing capital at scale and directing it towards high-impact projects which is channeled through six triple A-rated implementing multilateral development banks MDBs who collaborated on the design and structure of CCMM.
With USD 12 billion pledged, CIF has pioneered new ways of mobilizing climate finance to over 80 developing countries, funding first-of-a-kind solutions creating the conditions for others to follow. Following the listing of the bond issuance program, CCMM will pursue an inaugural bond issuance, subject to market conditions.
As part of the preparation for an inaugural bond transaction, investor outreach is underway to introduce CCMM to potential investors, including CCMM's strong credit quality, climate impact, and its financial structure. CCMM is expected to attract a diverse range of global investors, promoting broad-based participation in climate financing. At COP29, leaders from all sectors have been challenged to rapidly ramp up climate finance to levels that can power a worldwide green transition.
This is us delivering on that challenge: CCMM will mobilize private capital at scale and direct it to high-impact clean energy and clean technology investments. While this is an ambitious step forward, it is rooted in a year track record of being a first mover, working with national governments, the private sector, and frontline communities to pioneer cutting-edge clean technologies and solutions paving the way for greater ambition.
Every investment made, every bond issued, every dollar mobilized is a step closer to a sustainable future for all. This innovative financing tool aligns with our strategy to enable sustainable growth through capital raising from global investors.
