As global temperatures continue to rise, so does the urgency for transformative climate finance to mitigate greenhouse gas emissions and adapt to climate impacts. But how the world will raise and wield the finance needed - some US$3 trillion a year globally by 2030 – remains fraught.
Policymakers are negotiating mileposts like the NCQG (New Collective Quantified Goal), an agreed amount developed countries will provide to developing countries for climate action. But the reality is that no matter what they agree, it won’t be enough. The debate on how to reorient the global financial architecture to support climate-resilient development continues, with the private sector expected to raise 70% of the trillions needed.
Can the right regulatory and policy changes be woven into the world’s financial fabric to incentivize corporate action? Can private sector finance pave the way for a quick, efficient, and fair energy transition? What roles should civil society and multilateral institutions play? Join Perry World House for this important conversation in the lead up to COP29, “the finance COP” to learn how to think about these critical questions.