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Climate Finance

The Global Banking System is not Immune to Climate Change.

Climate change will have a growing influence on the stability of the banking system, potentially contributing to future financial crises. A new paper published in Nature highlights the detrimental effects of climate change on the banking system, adding to established literature on the effects of climate change on economic growth and productivity of labour. However, financial regulation authorities can act to reduce climate-related risks by implementing targeted measures.

The Green Climate Fund Must Focus on Adaptation  

Historically adaptation projects have received less funding than ones for mitigation. Furthermore, the burden of implementing adaptation is falling ever more on the public sector, whereas for mitigation private sector interest and investments are on the rise. This is leading to consequences in how climate finance allocates resources which are failing to support at risk areas and Least Developed Countries. The Green Climate Fund aims to bridge this funding gap and has secured its second round of funding, this time obtaining 9.78 billion USD in pledges. 

The Cruel Irony of Climate Debt

Not only does climate change have a more significant impact on the economies of lower income countries, these also have to pay more for adaptation, recovery and redevelopment loans, leading them into the climate debt trap. With the added “cruel irony” that those less responsible for climate change are being made to pay a larger share of the price.

830 Billion in Investments: The Mission is Possible

Climate Finance is the key to drive urbanization toward Smart Cities. It also means shifting investments towards building a vision of our common future. And we already know how to do it, on both global and regional scales.

bumpy-road-Paris-climate-deal

The bumpy road to action of the Paris climate deal

The end of 2018 is a crucial date for the implementation of the climate agreement adopted in Paris in 2015 and currently ratified by 178 countries. At COP24 in Katowice, Poland, countries are due to finalized and adopt the operational guidelines of the treaty, also known as “the Paris rulebook”.