There have been a slew of announcements this year which all point to one thing: business has figured out that there’s a lot of money to be made in the transition to a Green Economy. Be it record low costs for solar and wind energy, huge commitments to clean energy in both China and India, announcements from Volvo and BMW that herald the beginning of the end for petrol and diesel cars, or climate commitments from investor after investor, the message is clear. The momentum being generated as the global economy creaks into gear with the aim of decarbonisation means that the picture with regards emissions is brighter than it has been for years. And, while this shift has been encouraged by important policy commitments on reducing emissions, it is being driven by the fact that the economics make sense and there is money to be made from the transition – making the change we are currently seeing much faster and more sustainable than it would otherwise be.
In late April, GCAP and Grupo Laera headed to Washington DC to present the Private Markets for Climate Resilience (PMCR) project at Proadapt’s “Climate Risk and Investment Symposium: Framing Private Challenges and Opportunities”. The conference, organized by Proadapt, a program of the Multilateral Investment Fund of the Inter-American Development Bank, in partnership with the Nordic Development Fund, showcased thought leaders and practitioners with topics which included examples of resilience investments in selected sectors, evolving investment instruments, models and metrics, developments in climate resilience data, analytics and entrepreneurship, among other issues.
The UK goes back to the polls again in June for another election (we just can’t enough of democracy!) so its worth considering what this means for climate adaptation and mitigation in the UK. Clearly at this point a huge amount is uncertain, but I think there are several implications: