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High-Level Plenary: Mobilising finance and investment for clean energy in emerging and developing countries
Oct 2, 2023 | 2:55 PM - 4:10 PMConference Room CC15
Oct 2, 2023 | 2:55 PM - 4:10 PM
Conference Room CC15
To keep global warming to no more than 1.5°C – as called for in the Paris Agreement – emissions need to be reduced by 45% by 2030 and reach net zero by 2050. Doing so will require transformational breakthroughs and dramatic upscaling in mobilising public-private finance and investment to developing countries. It requires actions, partnerships and systemic change on multiple levels. At country level, a holistic, whole-of-government, demand-and-supply-focused approach is needed to create and ensure an attractive investment climate to support a robust pipeline of bankable projects. All country- and regional-level investment programmes and country/sector platforms can benefit from the direct involvement of (i) investors, banks, related networks and (ii) public financial institutions (PFIs) (MDBs, IFIs, bilateral donors, NDBs, public green investment banks), with iii) investee country governments having clear ownership. This inclusive approach can enable, across a range of platforms, the development and implementation of targeted, effective blended finance, and a clear focus on investable opportunities. What is needed from MDBs, donors and public financial institutions to achieve a 1.5 degree global warming target? What changes are required for an effective green finance and investment ecosystem?
