Climate finance

Where we will solve this challenge

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New Climate Risk Management


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How to we transform financial markets?

In cities, the funding gap for sustainable infrastructure is $93 trillion globally over the next 15 years. Focusing on promising investment vehicles as well as project preparation and capacity building will allow investors to be matched to bankable green assets in cities.

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The global financial system plays a critical role in the climate agenda. Financial markets offer both the biggest threat to advancing toward a zero-carbon resilient future, and the biggest opportunity for investing in the future.

Money plays a central role in economy, yet the goods and services provided by the earth cannot all be monetised. Thereby climate remains external to the current global economic system. The financial systems, as the collection of markets that direct financial flows around the world, is therefore central to shifting financial flows towards investment in assets that are aligned to climate change mitigation and adaptation goals.

Transforming financial markets requires a change of the ‘rules of the game’. Financial markets can impede progress where they are structured around short-term and purely financial profit making. As shown in the experience of the UN Environment Inquiry initiative, the formation of a new  understanding of sustainable finance needs new narratives - narratives which can challenge the “economically rational” individual as well as the corresponding mindsets of short termism and profit maximisation. Such narratives need to be woven into the society as a whole in order to be successful in the financial markets. This challenge therefore focuses primarily on the system level changes in the economy that will allow the financial markets to systematically incorporate and integrate climate externalities into financial decision making and value models.

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