Attracting grant financing is one of the key instruments for implementing sustainable and ESG projects. International financial institutions such as the Green Climate Fund (GCF), EBRD, and others allocate billions of dollars each year to projects in energy efficiency, sustainable construction, climate adaptation, and the environmental transformation of businesses.
However, obtaining a grant is not a one-time application, but a structured process that requires preparation, expertise, and proper project packaging.
In this article, we will examine the key steps required to obtain grant financing.
1. Identifying a suitable source of financing
The first step is to understand which funds and programs are suitable for your project.
Grants are provided for specific purposes:
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energy efficiency and emissions reduction
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sustainable construction (for example, EDGE / LEED)
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infrastructure development
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climate adaptation
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ESG transformation of businesses
For example, the Green Climate Fund (GCF) finances projects aimed at combating climate change and adapting to its consequences.
2. Accreditation or selection of a partner
To work with major funds (for example, GCF), an organization must be accredited or work through an accredited partner.
There are two main approaches:
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institutional accreditation
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project-specific accreditation (PSAA)
This stage confirms that the organization is capable of:
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managing financial flows
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complying with environmental and social standards
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implementing international-level projects
3. Project development and structuring
At this stage, an idea is transformed into an investment project.
It is important to:
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clearly formulate the project’s objective
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determine the environmental and economic impact
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calculate indicators (energy savings, emissions reductions, ROI)
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demonstrate compliance with ESG principles
The project must be not merely “environmentally friendly,” but financially sound and scalable.
4. Preparation of a concept (Concept Note)
A Concept Note is the first official document submitted to the fund.
It includes:
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a description of the project
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objectives and expected results
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the budget and sources of co-financing
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an impact assessment
This stage serves as a filter: it is here that the decision is made whether the project should be developed further.
5. Development of a full project proposal
If the concept is approved, detailed project development begins.
It includes:
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a financial model
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a technical description
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an assessment of climate and ESG risks
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an implementation plan
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a monitoring system
This stage requires in-depth expertise and usually takes several months.
6. Project review and approval
The project undergoes a multilevel review:
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analysis by the fund
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an independent expert assessment
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review by the investment committee or board of directors
A financing decision is then made
7. Signing agreements and launching the project
After approval:
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legal documents are signed
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the financing structure is determined
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project implementation begins
8. Implementation and monitoring
The project is implemented under continuous oversight of:
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achievement of KPIs
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compliance with ESG requirements
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financial reporting
Funds require transparency and regular reporting at every stage.
9. Evaluation of results and project completion
Upon completion, the following are performed:
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an assessment of project effectiveness
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an analysis of the environmental and financial indicators achieved
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preparation of reports and case studies
This is important for obtaining subsequent financing and scaling solutions
Why expert support is important
In practice, most companies encounter difficulties:
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improper project packaging
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lack of ESG justification
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a weak financial model
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lack of understanding of fund requirements
This is precisely why projects often fail to pass even the first stage.
How HPBS helps obtain a grant
HPBS supports projects at every stage:
1. Financing selection
— project analysis and selection of suitable funds (EBRD, GCF, and others)
2. Project structuring
— development of the investment rationale and ESG positioning
3. Documentation preparation
— the Concept Note and the complete application package
4. Financial and technical justification
— models, calculations, and KPIs
5. Support until financing is obtained
— interaction with funds and investors
Grant financing is a real opportunity to implement projects that would otherwise be economically challenging.
But success depends not only on the idea, but also on the quality of preparation and compliance with international requirements.
The right approach makes it possible to:
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reduce the cost of the project
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attract external financing
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increase business sustainability
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enter the international market
Would you like to assess your chances of obtaining a grant?
Contact the HPBS team — we will conduct an initial assessment of the project and propose the optimal financing strategy.
How to obtain an EBRD grant for SMEs: an overview of opportunities, requirements, and practical steps: