{"id":5584,"date":"2019-09-26T10:16:54","date_gmt":"2019-09-26T07:16:54","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=5584"},"modified":"2026-01-11T05:30:34","modified_gmt":"2026-01-11T05:30:34","slug":"how-to-finance-the-green-transition","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/09\/26\/how-to-finance-the-green-transition\/","title":{"rendered":"How to Finance the Green Transition"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong><em>By&nbsp;Werner Hoyer<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">World leaders gathered at the\nUnited Nations in the New York this week to take stock of the global fight\nagainst climate change, and to submit new emissions-reduction commitments.\nGiven the scale of the climate crisis, we are not moving nearly as fast as we\nshould be. We have been stuck in second gear for too long. Accelerating the\npace of change will require a combination of efforts from all actors, public\nand private.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fortunately, there is already\na growing private-sector coalition dedicated to combating climate change,\nthrough the work of the Climate Finance Leadership Initiative (CFLI). Led by\nMichael Bloomberg, the UN\u2019s Special Envoy for Climate Action, the CFLI was\ncreated to mobilize private capital at the global level in response to this\ncritical issue. This month, the CFLI released a new report, Financing the Low\nCarbon Future, which outlines ways green finance can be scaled up to support an\norderly transition to a low-carbon economy, and identifies opportunities for\npublic-private partnerships to meet the objectives of the 2015 Paris climate\nagreement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The EIB is the largest\nmultilateral investor in climate-related projects in the world. But now,\nanswering the call of European heads of state and European Commission\nPresident-elect Ursula von der Leyen, we intend to scale up our ambitions and\nstrengthen the EIB\u2019s role as the European Union\u2019s dedicated climate bank. By\nmainstreaming climate considerations and targeting low-carbon investments, the\nEIB will be able to channel at least \u20ac1 trillion ($1.1 trillion) toward\nlow-carbon projects over the next decade.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To achieve this, at least 50%\nof EIB finance will be dedicated to climate action and environmental\nsustainability by 2025. And by the end of 2020, we will have aligned all our\nfinancing activities with the goals of the Paris climate agreement. As an\nimportant first step, we will phase out energy projects that depend on fossil\nfuels. And we will position EIB as an incubator for green finance and expertise\nto mobilize others, helping all economies make the transition to a low-carbon\nfuture.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As the EU bank, our mission\nis to invest in Europe\u2019s future, and no issue is more important than climate\nchange. The strength of our resolve reflects the urgency of the climate crisis.\nJust this summer, countries across Europe suffered through record-breaking\ntemperatures and reduced crop yields, owing to last year\u2019s drought. And many\ndeveloping countries have had similar experiences. Flooding and other climate-driven\nphenomena now cost cities billions of dollars every year, in addition to\nendangering lives. But the climate crisis also represents an opportunity,\nbecause funding for new green infrastructure will create jobs, spur economic\ngrowth, and reduce the air pollution that is choking the world\u2019s cities\u2026<a href=\"https:\/\/www.newtimes.co.rw\/opinions\/how-finance-green-transition\">Read more&gt;&gt;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By&nbsp;Werner Hoyer World leaders gathered at the United Nations in the New York this week to take stock of the global fight against climate change, and to submit new emissions-reduction&hellip;<\/p>\n","protected":false},"author":3,"featured_media":5585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pagelayer_contact_templates":[],"_pagelayer_content":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[101],"tags":[],"class_list":["post-5584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news"],"_links":{"self":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/5584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/comments?post=5584"}],"version-history":[{"count":0,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/5584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media\/5585"}],"wp:attachment":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media?parent=5584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/categories?post=5584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/tags?post=5584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}