Last week, the Open Earth Foundation joined global and local leaders at Rio Climate Action Week, together with our partners from the COUGAR initiative under the Systemic Climate Action Collaborative. This gathering was a unique opportunity to discuss how to innovate climate finance models while ensuring communities remain at the center of the transition.

What is the COUGAR Project?

COUGAR, which stands for Community-Owned Transition for Growth and Resilience, is a groundbreaking initiative designed to empower local communities to play an active role in the financial mechanisms that drive sustainable development.

The project focuses on:

• Community engagement in climate finance: ensuring local voices are part of the design and governance.
• Inclusive funding portfolios: drafting an indicative portfolio of initiatives that is community-owned, funder-attractive, and rooted in local priorities.
• Resilience and impact: promoting decarbonization and social benefits, particularly for vulnerable and underserved groups.

By doing so, COUGAR seeks to make climate finance not only more effective, but also more equitable.

Spotlight on Porto Alegre

During the Rio Climate Action Week, we highlighted our work in Porto Alegre, Brazil, where the COUGAR project is already showcasing how climate finance can align with community-driven priorities. By focusing on locally owned solutions, the project ensures stronger resilience and higher long-term impact.

Partners Driving Change

We’re grateful for the leadership and contributions of:

• Joaquin van Peborgh (Open Earth Foundation)
• Fernanda Scur (Pyxera Global)
• Luis Henrique de Lima (CEA Bom Jesus)

Their voices and expertise are helping shape financial instruments that truly reflect community needs.

Why It Matters

As cities and communities worldwide face increasing climate risks, financial innovation is critical to scale solutions. But numbers alone are not enough, ownership, inclusivity, and resilience must remain at the core of climate action.

At Open Earth Foundation, we believe initiatives like COUGAR represent the next frontier of systemic climate finance, ensuring that resources flow directly into the hands of those most affected and most capable of driving local change.

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