Huge private sector investment puts Paris climate target in reach, says report
At least one trillion dollars are being invested globally in ways to reduce the threat of climate change, including renewable power, energy efficiency, and public transport around the world.
The sums involved are likely to make it possible in future for the world’s governments to meet their commitments under the Paris agreement on climate change, provided the investment continues and is directed to the right ends, according to a new report.
The World Bank Group’s subsidiary, the International Finance Corporation (IFC), said on Thursday that the investment could hold the key to fighting climate change. Governments will meet in Bonn next week to discuss the next steps in implementing their pledges made at the 2015 Paris conference on climate change.
Photo courtesy of James Moran.