from international partners supporting individual projects to the creation of markets into which capital can flow at scale. Brokering partnerships between developing and emerging economies, MDBs and institutional investors, countries like the UK need to lay the foundations for capital to truly flow. These foundations include policy, regu- lation and market creation in emerging markets, policy and regulatory changes in the Global North (using the City of London as an exemplar), and changes to MDBs and DFIs so they take the risks the private sector will not. These efforts need to complement and catalyse private capital rather than
competing and crowding it out. Country leaders also need to put in place the demand side for green energy and products that will drive invest- ment. Much of the energy consumption in emerging and developing economies is to service exporters, and, as a result, well-designed trade policy such as the EU’s carbon border adjustment mech- anism (albeit with some tweaks such as supporting countries to advance the investments needed to comply) can support this market development. Finally, countries need to acceler- ate international carbon markets, using new technologies to restore faith in transparency and integrity. This will be critical for Article 6, which
has significant potential to channel finance to the Global South while maximising least-cost decarbonisation options that benefit the climate globally. The solutions lie with the power of technology, and the investment needed to deploy it. Countries that lead the way in driving this investment could secure a share of the trade in clean technologies in the years to come – so it’s a win-win for countries as well as for the climate.
Æ LINDY FURSMAN ÇÞãÙîÁêçèâÖãÞèÖãÚíåÚçéÞãÖááÖèåÚØéèäÛØáÞâÖéÚØÝÖãÜÚâÞéÞÜÖéÞäãÖãÙÖÙÖåéÖéÞäãËçÞäçéäßäÞãÞãÜéÝÚÏäãî½áÖÞçÄãèéÞéêéÚÛäçÂáä×Öá¾ÝÖãÜÚ ÁêçèâÖãèåÚãééìäîÚÖçèìäçàÞãÜÖáäãÜèÞÙÚÉÚìÕÚÖáÖãÙąèâÞãÞèéÚçÛäçØáÞâÖéÚØÝÖãÜÚÁäçěëÚîÚÖçèèÝÚìÖèéÝÚØÝÞÚÛÖÙëÞèÚçÛäçØáÞâÖéÚ ØÝÖãÜÚÞãéÝÚÉÚìÕÚÖáÖãÙÈÞãÞèéçîÛäçéÝÚÀãëÞçäãâÚãéÖãÙèÝÚèåÚãéèÚëÚãîÚÖçèÖÙëÞèÞãÜäãØáÞâÖéÚØÝÖãÜÚÖãÙÚØäãäâÞØåäáÞØîÞãØáêÙÞãÜ ÞãéÝÚÉÚìÕÚÖáÖãÙÏçÚÖèêçîÖãÙÖèÚØäãäâÞØØäêãèÚááäçéäéÝÚÊçÜÖãÞèÖéÞäãÛäçÀØäãäâÞؾääåÚçÖéÞäãÖãÙ¿ÚëÚáäåâÚãé @ LindyFursman : institute.global/
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