OECD, UNEP and World Bank Preview Report, Discuss Financing Climate Futures

Assistive Technology, Built Environment, ICT, News, Universal Design, September 28 2018

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NEW YORK, USA: The Organisation for Economic Co-operation and Development (OECD), UN Environment Programme (UNEP, or UN Environment) and the World Bank Group hosted a discussion on the joint initiative, ‘Financing Climate Futures: Rethinking Infrastructure.’ The event, convened during Global Goals Week, previewed a synthesis report on ways in which countries can deliver on the objective of making financial flows consistent with a pathway towards low-emission and climate-resilient development.

In his opening presentation, Angel Gurría, Secretary-General, OECD, said a key question for society is “how do we make the Paris Agreement happen, and deliver on our climate and development goals?” He noted that greenhouse gas (GHG) emissions “have taken the climate beyond the conditions in which human societies have developed and thrived,” and underscored the importance of a multi-stakeholder, whole-of-government and global approach. Gurría emphasized the joint initiative’s finding that infrastructure planning policies are “not fit for purpose”, and that solutions require “eco-nomics” to shift away from carbon-intensive forms of infrastructure. Doing so, he noted, means linking to efforts on carbon pricing, the green bond market, and other “gamechangers that will unlock climate-compatible development.”

The joint initiative aims to help governments address questions on how technologies and new business models will shape the future of infrastructure, and determine the extent to which existing policy frameworks and institutions can deliver low-emission, resilient infrastructure, and how public and private actors can redirect financial flows at scale. The initiative’s preliminary synthesis report identifies six areas that are key to aligning financial flows with these objectives, as outlined by Gurría:

  1. Planning for a zero net emissions future;
  2. Innovation in technologies, institutions and business models;
  3. Budgeting that disentangles public budgets from fossil fuel reserves;
  4. Resetting the financial system in line with long-term climate risks and opportunities;
  5. Rethinking and reshaping development finance for climate outcomes; and
  6. Empowering local and sub-national governments to build low-emission and resilient urban societies.

For the full article, visit the source: IISD SDG Knowledge Hub

Re-posted with permission

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