Scaling up climate finance in the context of Covid-19: A science-based call for financial decision-makers
Thursday, 11th November 2021
Event to discuss how financial decision-makers can align finance with sustainable development and help to accelerate the transition to a net-zero, climate resilient economies, based on the latest scientific findings and policy developments. The event will provide an overview of four interventions to achieve this objective in the context of Covid-19: 1) Integrating policies on climate action, sustainable development, and Covid-19 stimulus, 2) Alleviating the debt burden of developing countries to create the fiscal space for a green recovery, 3) Setting up multi-sovereign guarantee funds, and 4) Developing credible green bond markets and facilitating developing countries accessing them.
These four immediate actions could have a structural positive impact on the future climate policy architecture. They could a) facilitate the deployment of carbon pricing since de-risking mechanisms will increase the volume of low-carbon investments at a given carbon price; b) magnify the impact of financial transparency and disclosure though the emergence of investments and asset classes of higher credibility; c) reduce the fragmentation of climate and development finance and d) enhance the capacity of MDBs and overseas assistance to support non-marketable services. These are critical to boost the adaptive capacity of societies and to crowd in private capital to fund mitigation activities.
Heleen DE CONINCK
Eindhoven University of Technology, Technology, Innovation and Society Group, Atlas Building
Green Climate Fund
University College London
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