Without private finance, there will be no green transition. Here is what needs to happen

The author asserts that private finance is indispensable for a green transition and details how the European Investment Bank (EIB) plans to channel at least €1 trillion into low-carbon projects over the next decade. The text advocates for the removal of fossil-fuel subsidies, improved climate-risk disclosure standards, and the modernization of electricity grids to attract private capital. It also highlights the role of the Climate Finance Leadership Initiative (CFLI) and the need for a standardized taxonomy for sustainable finance to expand the green bond market.

• The European Investment Bank (EIB) aims to become the European Union's dedicated climate bank, committing to channel at least €1 trillion ($1.1 trillion) toward low-carbon projects over the next ten years. To support this, the EIB intends to dedicate at least 50% of its finance to climate action and environmental sustainability by 2025 and align all financing activities with the Paris climate agreement by the end of 2020, which includes phasing out energy projects dependent on fossil fuels.
• The author identifies four primary levers to marshal the funding necessary for the green transition: improving data and disclosure standards via the Task Force on Climate-related Financial Disclosures; clarifying investment risks for cities in the developing world to attract capital for mass transit and energy-efficient buildings; modernizing electricity grids to support battery storage and overcome intermittency; and expanding the green bond market through a standard taxonomy for sustainable finance.
• The document argues that public funds currently used for fossil-fuel subsidies should be redirected toward electric vehicles and other transformative technologies to reduce air pollution and public health tolls.
• In the United States, market forces are shifting toward clean energy, evidenced by the retirement of more than half of coal-fired power plants since 2011 and the growth of clean energy employment to 3.3 million jobs, compared to fewer than 100,000 in coal mining.

APA

Hoyer, W. (2019). Without private finance, there will be no green transition. Here is what needs to happen. World Economic Forum. https://www.weforum.org/stories/nature-and-biodiversity/how-we-should-be-investing-in-the-green-transition/

Chicago

Hoyer, Werner. Without private finance, there will be no green transition. Here is what needs to happen. World Economic Forum, 2019. https://www.weforum.org/stories/nature-and-biodiversity/how-we-should-be-investing-in-the-green-transition/.

Wikipedia

{{cite press release |last1=Hoyer |first1=Werner |title=Without private finance, there will be no green transition. Here is what needs to happen |publisher=World Economic Forum |date=25 September 2019 |url=https://www.weforum.org/stories/nature-and-biodiversity/how-we-should-be-investing-in-the-green-transition/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{hoyer2019without, author = {Hoyer, Werner}, title = {{Without private finance, there will be no green transition. Here is what needs to happen}}, publisher = {World Economic Forum}, year = {2019}, month = sep, url = {https://www.weforum.org/stories/nature-and-biodiversity/how-we-should-be-investing-in-the-green-transition/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }