This is relevant to the OECD’s ongoing work on energy efficiency financing, including support to the G20 Energy Sustainability Working Group (ESWG). Another approach is to link energy efficiency loan repayment to property tax payments through tax liens (e.g. “Property-Assessed Clean Energy” (PACE) in the United States). This approach facilitates investment by allowing energy savings to offset loan repayments, while making repayment effortless for borrowers and creating increased security for lenders. For example, the Connecticut Green Bank’s C-PACE programme financed, in less than two years, nearly USD 54 million in energy upgrades for 89 buildings, accounting for about one-third of the commercial PACE market in the United States. Well-designed climate policies create many of the conditions necessary to stimulate LCR investments. Within such a framework, GIBs can play a supportive role in overcoming remaining barriers and catalysing investment.