Call to enhance climate ambition

It is not interesting, it is niche; that is how big the numbers are,” Carney said


Reuters October 13, 2021

LONDON:

The world’s multilateral development banks need to “up their ambition” in terms of the financing provided for climate-related projects, United Nations climate envoy Mark Carney said on Tuesday. Speaking in a podcast with Reuters, Carney said groups such as the World Bank and other development finance institutions should focus on backing investments that can be scaled up to $100 billion a year. “In climate finance, if something is not going to scale to 100 billion a year in the medium term, it is not interesting, it is niche; that is how big the numbers are,” Carney said. “So I think the MDBs need to be thinking in those terms, designing programmes that are scalable, that can reach those levels.”

Published in The Express Tribune, October 13th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read