So here we are at the first ever finance ministerial. With the ‘climate crunch’ rapidly exposing our economies to the risks of climate change and economic downturn, the stakes have been raised. Parties have agreed on the need for action, put in place the institutions and frameworks, but there is one essential ingredient missing: finance.
Climate impacts are accelerating and multiplying as they rush through our global economic system. We all know that the lack of finance is blocking progress – both in action on the ground and in negotiating a stronger global climate deal.