World Bank Sees at Least USD 23 Trillion in Investment Opportunities from Paris Agreement
In 2016, the historic Paris Climate Change Agreement accelerated already growing markets for climate-smart investment. And 2015 was another record-breaking year for renewable energy, with nearly $350 billion invested, more than double the amount going to fossil-powered generation.
The growing attraction of climate business was evident at last year’s UN Climate Change Conference in Marrakesh, where more and more major businesses spoke about climate as an investment opportunity that they were looking to pursue. But where are the most promising investments? And what do governments need to do to unlock private finance between now and 2030?
To answer these questions, the International Finance Corporation (IFC)—a member of the World Bank Group and the largest global development institution focused on the private sector in developing countries—analyzed the national climate action plans (Nationally Determined Contributions, or “NDCs”) made by 21 rapidly growing emerging market economies where we expect to see major investment in infrastructure and climate-smart solutions.
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