On 29 November (5:00 PM CET / 11:00 AM EST) the OECD is holding a webinar to discuss key findings from the OECD, UN Environment and World Bank Group report Financing Climate Futures: Rethinking Infrastructure, which explores six key transformative areas (planning, innovation, public budgeting, financial systems, development finance, and cities) that will be critical to align financial flows with low-emission and resilient societies. The report also looks at how rapid socio-economic and technological developments, such as digitalisation, can open new pathways to low-emission, resilient futures.
Aligning financial flows with low-emission, resilient development pathways is now more critical than ever to meet the goals of the Paris Agreement and deliver on the 2030 Agenda for Sustainable Development. Current energy, transport, building and water infrastructure make up more than 60% of global greenhouse gas emissions. Yet infrastructure has suffered from chronic underinvestment for decades, in both developed and developing economies. The OECD estimates that USD 6.9 trillion a year is required up to 2030 to meet climate and development objectives. An unprecedented transformation of existing infrastructure systems is needed to achieve the world’s climate and development objectives.
How can governments move beyond the current incremental approach to climate action and more effectively align financial flows with climate and development priorities?