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Mobilizing climate finance flows

Nordic approaches and opportunities

image of Mobilizing climate finance flows

If the Agreement’s goal - limit the global temperature increase below 2°C - is to be met, all financial flows need to shift dramatically and rapidly from current investment patterns to 2°C compatible pathways. This study analyses the roles Nordic actors might play in mobilizing finance flows internationally and outlines a roadmap that can guide joint Nordic action during the next five to ten years. While the roadmap covers components of “climate related ODA” and climate compatible contributions from the private sector, the focus of the roadmap lies on the crucial bridging and dialogue that is required between key actors. Building on identified Nordic strengths and areas needing accelerated international support, the report concludes with a set of immediate next steps to operationalize the roadmap in 2017-2018.

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Foreword

The Paris Agreement was the culmination of many years of climate negotiations. The Agreement entered into force in less than a year, thus demonstrating strong political commitment. The long term goals of the Paris Agreement have significant implications for finance. Making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development is a major undertaking that requires efforts from both public and private institutions and actors. It also requires a paradigm shift in thinking — the global clean energy transition is here to stay and investing in clean energy makes good economic sense. At the same time, there is an increasing need to cope with and adapt to the impacts of climate change.

English

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