Investing in Climate Change Mitigation: A G20 Action Plan for Upscaling Private Sector Contributions
By Venkatachalam Anbumozhi, Kaliappa Kalirajan, Peter Wolff, and Jootae Kim
The world will need to see some US$ 20 trillion in capital expenditure on lowcarbon energy supply and in energy efficiency to meet the Paris Agreement targets. Given the large scale of the investment required to decouple carbon emissions from economic growth, it will have to rely largely on mobilizing private capital. The G20 has taken initial steps to formulate a climate agenda to be financed by private capital, but more needs to be done. Four interrelated solutions: a low-carbon transition fund, a financial performance warranty program, best low-carbon regulations and a high-quality infrastructure program are proposed as an action plan for G20 to accelerate a private sector-led climate mitigation agenda at the global level.