THE LAST 12 MONTHS HAVE BEEN THE WARMEST ON RECORD. THE GREENHOUSE GAS EMISSIONS THAT HUMANS CONTINUE TO PRODUCE TO POLLUTE THE ATMOSPHERE RELENTLESSLY ADD TO THE HISTORICALLY HIGH CONCENTRATIONS ALREADY THERE. THE LAST 12 MONTHS HA THE WARMEST ON RECOR GREENHOUSE GAS EMISS THAT HUMANS CONTINUE PRODUCE TO POLLUTE TH ATMOSPHERE RELENTLES ADD TO THE HISTORICALL CONCENTRATIONS ALREA
to take action within their respective capacity. But even with a full commit- ment they cannot do the job alone. A turning point? The private sector is thus key to closing the climate finance gap. One estimate suggests that even if all multilateral development banks committed their entire balance sheet to the green tran- sition, it would only provide 4% of the capital needed. Merely 1.4% of the private sector’s $410 trillion in global financial assets would surpass the highest finance gap estimate. Mobilising private invest- ment is therefore critical. Climate finance will be a trillion-dollar market by 2030. Mobilising this capital is thus both a challenge for policymakers and an opportunity for business. Public and private sectors must act and work together Whether driving innovation or address- ing the global challenges arising from the triple planetary crisis of climate change, biodiversity loss and pollution, well-crafted policy and regulation can mobilise capital for sustainable devel- opment, promote transparency and
banking and insurance can lead the urgently needed environmental and energy transition. It showcases insights from existing efforts to close the finance gap, showing how policy innovation has led to credible progress, and how much more can and must be done. Leaders in policy, finance, development and sci- ence appraise solutions, giving insight into what has worked, what has failed, and what remains to be done. Their contributors in turn, address: ● Achieving adequate, ambitious, cli- mate finance ● The Paris Agreement platform ● Improving public finance ● Mobilising private sector finance ● Improving integrity for private sector finance ● Frontier technology – financing fit- for-future infrastructure ● Innovative climate financing.
disclosure, provide common language and standards, and foster collaboration among stakeholders. Without coherent policy, climate finance may not be sufficiently prior- itised by governments, the financial sector and its counterparties, leading to missed opportunities for investments to improve the planet’s future. Working to establish a global and col- laborative dialogue and approach will enable leading investors to work with both public and private sectors to cat- alyse change across the entire finance spectrum and help financial institu- tions eliminate the financing gap to reach the Sustainable Development Goals. Every investment initiative is required to deliver real world sustainability outcomes, by engaging regulators to strengthen environmental, social and governance standards and by reimag- ining business practices that prioritise sustainable impact. This publication draws on the exper- tise, experience and commitment of key global leaders from major institu- tions and sectors to show how finance from capital markets, asset manage- ment, corporate finance, international
Æ JOHN KIRTON ÅäÝã ÆÞçéäã Þè éÝÚ ÙÞçÚØéäç äÛ éÝÚ Âáä×Öá ÂäëÚçãÖãØÚ ËçäÜçÖâ ìÝÞØÝ ÞãØáêÙÚè éÝÚ Â ÍÚèÚÖçØÝ Âçäêå éÝÚ Â# ÍÚèÚÖçØÝ Âçäêå éÝÚ ½ÍľÎÍÚèÚÖçØÝÂçäêåÖãÙéÝÚÂáä×ÖáÃÚÖáéÝ¿ÞåáäâÖØîËçäÜçÖâÖééÝÚÐãÞëÚçèÞéîäÛÏäçäãéäìÝÚçÚÝÚÞèÖåçäÛÚèèäçÚâÚçÞéêèäÛåäáÞéÞØÖá èØÞÚãØÚÃÚÞèéÝÚØäxÖêéÝäçìÞéÝÀááÖÆäàäéèÞèÖãÙ½çÞééÖãÚîÒÖççÚãäÛ ÍÚØäãěÜêçÞãÜéÝÚÂáä×ÖáÂäëÚçãÖãØÚäÛ¾áÞâÖéÚ¾ÝÖãÜÚ ÖãÙìÞéÝÀááÖ ÆäàäéèÞè ÏÝÚÂáä×ÖáÂäëÚçãÖãØÚäÛ¾áÞâÖéÚ¾ÝÖãÜÚÂ# ÖãÙÐÉÇÚÖÙÚçèÝÞå . He is also co-editor of  ½çÖïÞáÏÝÚ ÍÞäÎêââÞé ÖèìÚáá ÖèÖÜáä×ÖáÝÚÖáéÝèÚçÞÚèÞãØáêÙÞãÜéÝÚçÚØÚãé ÃÚÖáéݼËäáÞéÞØÖá¾ÝäÞØÚ½êÞáÙÞãÜÍÚèÞáÞÚãØÚÖãÙÏçêèé . @jjkirton : www.g7g20.utoronto.ca
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