So how are we doing a year after McKinsey & Company’s landmark Net-Zero Transition Plan?

“McKinsey’s Bharath Sattanathan speaks to Gillian Tan, chief sustainability officer at the Monetary Authority of Singapore, about solutions to the financing challenge, particularly in Asia. She reports on the key highlights from the Transition Finance towards Net Zero Conference that MAS hosted in October last year. These include the need for private finance, rethinking public finance, and risk clarity, and for addressing the role of regulation to achieve a successful, sustainable transformation…

“Data coming from the McKinsey Global Institute shows that, globally, we need $9 trillion annually  over the next 30 years if we’re going to have a chance at reaching net zero. The figure speaks for itself. Governments alone cannot afford the scale of financing required. We need to find ways to crowd in private capital, whether it comes from financial institutions or philanthropic sources. We also require a fundamental rethink and a reorientation of public finance.”