R20 Austrian World Summit Special Report 2019: Financing of Climate Projects

R20 Austrian World Summit Special Report 2019: Financing of Climate Projects

The subject of “climate finance” has gained widespread attention in recent years. Publicly owned financial ins-titutions, as well as private actors across the world, are becoming increasingly aware of the role finance needs to play as a force for good in delivering on the internatio-nally agreed climate goals and contributing to a sustain-able and healthy development in general.

According to the UNEP Finance Initiative, the transition to low-carbon and climate-resilient economies requires investment of at least US$ 60 trillion, from now until 2050. To narrow the current finance gap for climate action, new financing institutions, instruments and regulations are developing at a rapid pace. This momentum for change is an en-couraging sign.However, the increasingly complex climate finance architecture also poses a challenge for developers of the sought-after climate projects – particularly in de-veloping and emerging countries. A perceived lack of in-formation on financing opportunities and how to find the appropriate solutions were among the most frequently expressed concerns of companies and organizations taking part in last year ́s Special Report, at the R20 Aus-trian World Summit and in the context of our “Post Paris Navigator” initiative. For this reason we are focusing this report on the financing issue.

On the following pages we present carefully selected climate-impact projects in developing and emerging countries, show how they contribute to local sustain-able development and discuss how each of them was financed.

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