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Rich nations were supposed to provide $100 billion a year in climate finance for emerging economies starting in 2020, a milestone they appear to have finally reached two years late.
Ajay Banga, the World Bank's president, said the Private Sector Investment Lab is focused on "figuring out a model of originate-to-distribute" that would allow for deep-pocketed investors to put up large sums for climate deals. The creation of a "securitizable asset class in these kinds of investments, where large pension funds, large players like BlackRock will find a very attractive place to put billions to work," is a key target, he said at the Bloomberg Business Forum at COP28.
DUBAI: Governments, development banks and companies announced on Friday initiatives to mobilise billions in climate...
DUBAI: Caretaker Prime Minister Anwaar-ul-Haq Kakar stressed on Saturday the need to fulfil the growing needs of...
Modi has called for ensuring requisite climate financing and technological transfer to developing countries