Scaling Up the Mobilisation of Private Finance for Climate Action in Developing Countries
Challenges and Opportunities for International Providers
This report explores evidence-based action areas to increase and accelerate the mobilisation of private finance for climate action in developing countries, and the role of international public finance providers in doing so. It draws on best-available data to provide disaggregated analysis of the sectoral, geographic and other features of private finance mobilised by public climate finance and presents key economy-wide, sector-specific, and institutional challenges to private finance mobilisation. The analysis is anchored in the context of the USD 100 billion climate finance goal, initially set for 2020 and extended to 2025, while also providing insights related to mobilising private finance for climate action in developing countries more broadly.
Foreword
Global efforts to tackle climate change are off-track. Without a major, immediate course-correction, the Paris Agreement goal of limiting the global average temperature rise to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C will slip away, with the crossing of climate change tipping points leading to irreversible impacts. Meanwhile, efforts to adapt and build resilience to the impacts of climate change remain inadequate. The challenge is most acute in developing countries, for whom the imperative of climate action is one among several priorities, including wider economic development and poverty alleviation, amidst a complex and difficult global economic backdrop.
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