For instance, in the mitigation context, an ex-ante assessment of cost-effectiveness - typically summarised by marginal abatement cost, or costs per tonne of carbon abated metrics - may allow a fund manager to allocate scarce resources efficiently according to a least-cost abatement strategy. However, cost-effectiveness metrics might not be equally well suited for other types of interventions, such as a financial interventions intended to improve the risk-return profile to attract private finance by taking a first-loss position in an investment fund. These types of activities may prove to be cost-effective in the long-run, but would not perform well in ex-ante evaluations where their benefits are not well captured by models.