Globally, over $3.6 trillion is circulating in the broader impact and climate finance space. Of this, around $1.6 trillion is already committed as impact capital, while nearly $2 trillion flows annually into climate-related initiatives. Yet only around $18 billion reached blended-finance transactions last year – a fraction of what is available. A significant share of this capital remains underutilized, not because of a lack of funds, but because of a shortage of investment-re