Sharm El Sheikh: Finance took center stage at the COP27 climate talks on Wednesday, with UN experts publishing a list of $120 billion worth of projects to help investors reduce emissions in poor countries and protect us from the effects of global warming. Can help with compatibility.
A $3 billion water transfer project between Lesotho and Botswana, and a $10 million project to improve public water systems in Mauritius were among dozens of projects listed, including 19 in Africa.
“We can now show that there is a meaningful pipeline of investment opportunities in the economies most in need of financing,” said Mahmoud Muhyiddin, one of the UN’s appointed experts, known as the UN. known as the United Nations High-Level Champions of Climate Change, said in a statement. Reports
In an attempt to counter the argument of private sector financiers that investing too much in emerging markets is too risky, experts who help COP host governments engage with businesses have compiled a list of projects that can be funded more quickly.
After a year of meetings with stakeholders around the world, they released a preliminary list to evaluate the bank and other projects.
“What we need now is creative collaboration between project developers and public, private and concessional finance, to unlock this investment potential and turn assets into flows,” said Mohailedin, COP27’s high-level champion. “
However, another report released on Tuesday suggested that developing countries would need to raise $1 trillion a year in external financing by 2030, and then match that with their own funds, to keep the world’s economy on track. The goal of halting climate change can be met.
