At this Student / Young Pugwash (SYP) seminar, Federico Mazza from Climate Policy Initiative (CPI) and Aneil Tripathy from Climate Bonds Initiative (CBI) discussed the current state of global climate finance and considered solutions to secure the resources needed to secure a low carbon transition.
Some points made:
The IEA has calculated that investments equal to $16.5 trillion are needed to be unlocked between 2015 and 2030 in order to limit the global temperature increase to 2°C. CPI tracked a total of $392 billion invested in 2014, a record year for climate finance. However, financial flows need to be scaled up. Climate bonds can represent a possible solution to unlock the capital needed. With an almost exponential growth in bonds issued between 2012 and 2017, and a potential $90 trillion worth global bond market to draw from, this relatively new financial tool could unlock significant resources to fight climate change.
Special thanks to the SYP members who organised this event, particularly Riccardo Rosselli and Lindsey Katherine Guest