The United Nations have recently issued a rather worrying report that estimates around $90 trillion is needed over the next 15 years to try and combat the devastating effects of climate change across the world. Although we all know it’s imperative for our survival that we do clean up the globe, but at that cost, how will it be done, particularly for developing countries that have very little capital?
Private funding is the key here. But, in order to get access to those funds governments will need to step in to give some form of encouragement to those investors. With well- developed financing models, co-ordinated policies and incentive programs to play with that shouldn’t be too much of an issue and will allow struggling countries to still address environmental issues while not impacting their economies too much.
"If we are going to spend $90 trillion one way or the other, let's do the right thing now. Make the change." @FelipeCalderon #WorldGovSummit
— UN Foundation (@unfoundation) February 10, 2016
Green finance is not a new thing and there have been various successful ventures in the past, with the global green bond market being worth over $41 billion in 2015. Private firms from all across the globe are getting involved with wind parks being privately financed by companies in Mexico and India and solar plants in India, South Africa, and Morocco are being supported by multinational trust funds.
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