Stabilizing the global climate is one of the most urgent challenges in coming decades. Our warming world affects all people and ecosystems, particularly the poor who already suffer disproportionately from climate-change impacts.
Getting to $100 Billion: Climate Finance Scenarios and Projections to 2020 is one of the first quantitative analyses of realistic funding scenarios to achieve the climate finance goal of $100 billion annually by 2020. It shows that if a variety of sources are included, climate finance could total $109 to $155 billion in 2020 under projections of low-medium growth and leverage.
Research shows that between 2015 and 2030, the world will need to invest an average of $6.2 trillion annually in infrastructure. More than 120 financial actors recently came together to discuss ways to secure this finance and ensure it supports low-carbon, climate-resilient projects.
The Green Climate Fund (GCF), expected to become the main vehicle for securing and distributing finance, moved one step closer to disbursing funds this week. Its resources will support a range of activities that reduce emissions or foster resilience—such as installing renewable energy, helping farmers grow drought-resistant crops and reducing deforestation.
If you had an initial $10 billion in capital to fight climate change and boost resilience, how would you decide how to spend it? This is one of the key questions facing the Green Climate Fund Board at its ninth meeting in Songdo, South Korea this week.
Despite difficult negotiations in Lima, discussions signaled the positive outlook among development banks for expanding climate finance in Latin America and the Caribbean.
With increasing low-carbon investments, pledges to the Green Climate Fund, and ambitious renewable energy and efficiency targets demonstrate robust political and financial commitments, building momentum for a strong global response to climate change.