The OECD, UN Environment and the World Bank Group are hosting a high-level panel discussion on their joint initiative, “Financing Climate Futures: Rethinking Infrastructure”. Scaling-up and shifting financial flows to low-emission and resilient infrastructure investments is critical to delivering on the objectives of the Paris Agreement and the 2030 Agenda for Sustainable Development. Despite some progress, radical transformations are needed to drive systemic changes in finance, infrastructure and innovation. The Financing Climate Futures initiative provides an agenda for such a shift and identifies six transformative areas that are key to aligning financial flows with climate and development objectives.
Objective and approach of the Initiative
The OECD, UN Environment and World Bank Group have joined forces under a new initiative entitled “Financing Climate Futures: Rethinking Infrastructure”.The initiative, supported by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), stems from the 2017 G20 Hamburg Climate and Energy Action Plan, which called on the three organisations to “compile ongoing public and private activities within the G20 for making financial flows consistent with the Paris goals and, building on this, to analyse potential opportunities for strengthening these efforts”.The initiative explores what public and private actors should do to trigger the radical transformation needed to align financial flows in infrastructure for a low-emission, resilient development.