Can Green Finance Fill The $18 Trillion Infrastructure Investment Gap?
Hundreds of trillions of dollars are needed for infrastructure investment over the next few decades. A new campaign, The Green Bond Pledge, has launched to encourage cities, governments and corporations to fund this need through bond issues aligned with climate and emissions goals.
At the Climate Bonds Initiative event in London, former Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Christiana Figueres called on cities, governments and corporations to commit to the use of green bonds for infrastructure investment. She said,’ “When green investments move from business plans into budgets and balance sheets a wealth of opportunity will be unlocked across the value chain. Organizations committing to the Green Bond Pledge will benefit from these opportunities and help the necessary acceleration of capital flows … to deliver a sustainable future for everyone.’
The Pledge is based on the premise that public and private sector bonds financing long-term infrastructure and capital projects need to address and incorporate climate risk and impacts.
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