Paris, we have a problem.
To limit global climate change to 2°C, as per the Paris Agreement, experts believe that about $6trn investment annually in clean energy infrastructure is necessary over the next 15 years — 60% of which will need to go into energy and transport. Yet, current investment rate is about $350bn.
“The good news is that we a see a lot interest from investors and banks, we’ve had billions of dollars of pledges [at COP21] from the private sector,” Marcene Broadwater, global head of climate strategy at the World Bank’s International Finance Corporation (IFC), told the New York Times Energy for Tomorrow conference in Paris last week.
