Global South-focused Climate Finance Body Unveiled at COP28 

A new climate finance capacity building collaboration aimed at emerging markets and developing economies (EMDEs) has been launched today (1 December) at COP28. The Global Capacity Building Coalition includes Bloomberg Philanthropies, UN agencies, the International Monetary Fund, the International Sustainability Standards Board, the Network on Greening the Financial System, the Glasgow Financial Alliance for Net Zero, the Principles for Responsible Investment, the World Bank and other major multilateral development banks. This global collaboration will seek to increase the availability and effectiveness of climate finance technical assistance programmes for financial institutions in EMDEs. António Guterres, United Nations Secretary-General said: “The fight against climate chaos depends on cooperation, collaboration, and capital. This welcome initiative brings these vital ingredients together. We must unite around the priorities of developing countries, to get finance where it is needed and power a surge in climate action. The lives and livelihoods of people around the world depend on it.” EMDEs will require US$2.4 trillion in annual climate finance by 2030 to build resilient, sustainable economies and enable the global transition to net zero. 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top