Take it global, please

The Bottom Line

The voice of leading businesses and investors at COP21

Take it global, please

At first glance, the scale of financing needed to build our low-carbon future is daunting. In Copenhagen, governments pledged to scale annual public climate finance to US$100 billion by 2020. And that US$100 billion would be used to unlock trillions – mostly in pension funds – to help build the infrastructure, cities and ecosystems needed for a low-carbon world.

The New Climate Economy calculate that strengthening economic growth through 2030 will require an estimated cumulative US$89 trillion of infrastructure investment under a business-as-usual scenario, whereas  investing in low-carbon infrastructure only requires an additional US$4.1 trillion.

The money is beginning to shift. Private sector financial institutions hold around US$305 trillion of which US$59 trillion is managed by investors making a public commitment to climate and responsible investment through the Principles for Responsible Investment.

Green bonds, created to build the clean economy,  are taking off: US$36 billion in 2014, US$100 billion in 2015 and estimates to triple by 2018.

It is a pivot for the finance sector and one that the UNEP Financial Inquiry has helped shape.  When asked how to deliver scaling investment, Sean Kidney, CEO of The Climate Bonds Initiative his only ask was: “Take it global, please.”

Edition 11 December 11, 2015

TWEETS of the DAY

Dec 10 Tony de Brum

Our #HighAmbitionCoalition grows. Welcome Philippines, Seychelles, Chile, Fiji, Grenada, FSM, Lux, Canada. Now 100!

Dec 10 CDP

The CEO of one of world’s top energy companies: The future is closer than we think http://ow.ly/VHPhA

Dec 10 Kumi Naidoo

If you believe in #HumanRightsDay, you believe in #renewable energy for all http://bit.ly/1jQsQka  #COP21

To provide the policy certainty that business needs and the ambition that science dem­ands, to establish a level playing field for business worldwide, and to accelerate the transition to the low-carbon economy, We Mean Business calls for the following in the Paris Agreement on Climate Change:

  1. Net zero greenhouse gas emissions well before the end of the century
  2. Strengthen commitments every five years
  3. Enact meaningful carbon pricing 
  4. New and additional climate finance at scale
  5. Transparency and accountability to promote a race to the top
  6. National commitments at the highest end of ambition
  7. Adaptation to build climate-resilient economies and communities
  8. Pre-2020 ambition through Worksteam 2

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