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13OCT
2016
Executive Summary: "New Climate Economy 2016: The Sustainable Infrastructure Imperative: Financing for Better Growth and Development"
Category: Financial Services, Government & Policy, International Development, Latest News

We are at a US$ 90 trillion infrastructure crossroads, according to a new report from the Global Commission on the Economy and Climate. Over the next 15 years, the world will need to spend the staggering sum, more than doubling its current infrastructure stock. The scale of the challenge is huge, but offers a massive opportunity to build climate resilience into the fabric of global infrastructure systems.

The Global Commission identifies four action areas to finance sustainable infrastructure at the scale required:

1.   Tackle fundamental price distortions through fossil fuel subsidy reform and carbon pricing. Fossil fuel subsidies amounted to around US$550 billion in 2014, skewing investment away from sustainable options.

2.   Strengthen policy frameworks and institutional capacities. Better planning and governance can ensure the right projects are selected in the first place, and the right financing is used at the right time.

3.   Transform the financial system through new tools like green bonds and green investment banking, and by greening the existing financial system, including through corporate climate risk disclosure.

4.   Ramp up investments in innovation and deployment of clean technologies to reduce the upfront costs of sustainable infrastructure.

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