he global economy must undergo an unprecedented socio-economic transition to avert catastrophic climate change. The latest IPCC report emphasises the urgency of climate change mitigation in order for greenhouse gas emissions to be halved and for the rise in global temperature to remain within 1.5°C, as per the Paris Agreement. This requires major investment in clean technologies, low-carbon infrastructure, sustainable business models, and adaptation measures.
Significant capital is available, but it is not flowing in sufficient quantities, especially into Emerging Markets and Developing Economies (EMDEs). Urgent collaborative action is needed by all stakeholders to: (i) scale the necessary investments in the short- and medium-term; and (ii) address the systemic and regulatory barriers.1