"The Money Is Here": COP26 Banks On Boosting Climate Finance
NDTV
Cost estimates vary but it is thought that it will take between $3-4 trillion annually -- around 2 percent of global GDP -- to reach net-zero by mid-century.
How can the world find the cash to limit global warming to liveable levels and completely decarbonise the economy within 30 years? That's the $100-trillion-dollar question.
Cost estimates vary but it is thought that it will take between $3-4 trillion annually -- around 2 percent of global GDP -- to reach net-zero by mid-century.
Financiers and governments at the COP26 summit believe they have found a way to come up with enough.
"The money is here if the world wants to use it," said UN climate finance envoy Mark Carney, who has overseen the creation of a vast alliance of banks and funds that say their portfolios are ready for net-zero investments.
