IPCC: Remove Climate Finance Barriers to Avert Decline

There is sufficient global capital to rapidly reduce greenhouse gas emissions if existing barriers are reduced, said scientists in the sixth and final climate change assessment report from the Intergovernmental Panel on Climate Change (IPCC) report released today.

The final part of the IPCC’s eight-year scientific assessment into the climate crisis undertaking with hundreds of scientists found the climate crisis challenge had become greater due to a continued increase in greenhouse gas emissions.

It said the pace and scale of what has been done so far, and current plans, were insufficient to tackle climate change.

The IPCC report said that increasing finance to climate investments was important to achieve global climate goals and that governments, through public funding and clear signals to investors, were key in reducing barriers.

It also said investors, central banks and financial regulators must play their part.

“Mainstreaming effective and equitable climate action will not only reduce losses and damages for nature and people, it will also provide wider benefits,” said IPCC Chair Hoesung Lee.

“This Synthesis Report underscores the urgency of taking more ambitious action and shows that, if we act now, we can still secure a liveable sustainable future for all.”

Read more articles like this on Regulation Asia’s sister publication, ESG Investor.

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