Reaching the ambitions of the Paris Agreement will require global changes towards low-carbon, climate-resilient economies. We are witnessing a proliferation of green financial mechanisms and growing efforts to align investment flows to climate targets. But amidst these signs of growing appetite to shift global development pathways, what will it take to ‘green’ private sector investment flows to developing countries, as well as to reach the $100 billion per year climate finance target promised by developed countries?
The Green Climate Fund has been established under the United Nations Framework Convention on Climate Change and is mandated to support developing countries drive a paradigm-shift towards low-emissions and climate resilience. The spectrum of challenges posed by climate change will require government and business working in tandem to break down regulatory and market barriers. Howard Bamsey, Executive Director of the GCF, discuss the needs and opportunities for climate action, and the pivotal role that the Green Climate Fund plays in driving forward climate transformation and catalyzing investments that support the needs of developing countries.
Howard Bamsey is Executive Director of the Green Climate Fund. A former Australian Ambassador for the Environment and Special Envoy on Climate Change, he has also served as Special Adviser on Green Growth to AusAID and Special Adviser on Sustainable Development to the Department of Foreign Affairs and Trade. He was also Director General of the Global Green Growth Institute in Seoul and Honorary Professor at the Australian National University.