There are large gaps in capital, and the need for funds to ensure clean-energy infrastructure is expected to grow to $300 billion by 2030. Presented by Deloitte.
Developing countries are often at higher risk from the effects of the climate crisis, including flooding, drought, and extreme heat. For many governments and companies in these countries, the business of sustainability has become a major issue, with concerns about the high cost of decarbonization and the financing needed for the transition to cleaner energy sources.
In a panel discussion at Climate Week NYC on Tuesday, several executives from the investment firm Barings highlighted theA major issue is insufficient funding for large-scale adaptation projects aimed at reducing carbon and increasing renewable power generation. While the Paris agreement has, it doesn't provide a plan or guidance for how to achieve them.
"We need more global coordination because it's difficult for them to face these shocks by themselves," said Kawtar Ed-Dahmani, Barings' managing director of emerging-markets debt.
Two nonprivate sources of financing are transfers from wealthy developed donor countries and loans and grants from developmental finance institutions like the World Bank or the International Monetary Fund .
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