Opinion / #green bonds
Chinese state-owned banks has shrunk as commercial bank "co-financing" grows. But a meaningful green pivot to lower-income countries, especially for renewable projects, has yet to be seen.
Emerging economies need to explore innovative, pragmatic strategies to mobilise funds for climate adaptation and mitigation.
The sustainable development goal financing gap has widened significantly in many developing countries in the region. Coordinated multi-stakeholder regional partnerships and cooperation are needed to mobilise new resources.
It is no exaggeration to say that the GCF’s replenishment campaign is a test of the world’s commitment to combating global warming. A successful outcome would not only help close the massive global climate financing gap, but would also allow developed countries to rebuild trust by showing that they understand the urgency of the crisis.
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