Rising temperatures and sea levels have long been issues that global development stakeholders have sought to tackle, most recently with renewed impetus thanks to the Paris climate agreement. However, United States President Trump’s withdrawal from the deal highlights the critical need for more effective and innovative financing to adequately tackle this multifaceted issue.
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Speaking to Devex in May at Barcelona’s Innovate4Climate week, Alzbeta Klein, the International Finance Corporation’s director and global head of climate business, explained that when it comes to the business of climate, there are “trillions” of investment opportunities to be had, especially for the private sector.
“What is really exciting in this space is that we’re seeing the private sector coming in and investing in the space, bringing in new technologies and bringing in new opportunities,” said Klein. “There is so much to be done, whether it be in energy storage or ... in climate-smart culture — there are many, many areas where [the] private sector can come in with solutions.”
Highlighting the scalability and replicability of certain climate investments within various emerging markets, Klein detailed the top five ways to invest in the environment. For more details on how these five financing methods work in practice, watch the video above.
Over 10 weeks Devex, along with our partners the European Investment Bank, the International Finance Corporation, Philips, and the United Nations Development Programme, will take an in-depth look at the innovative financing mechanisms driving forward the 2030 sustainable development agenda. We’ll explore how the funding gap can be filled, ask how cross-sector collaboration can lead to improved global health care, and look at what it takes to build successful partnerships for change. Join us as we examine the innovative financing powering the Global Goals by tagging #Going4Goals and @devex.