The OECD, UN Environment and World Bank Group have joined forces under a new initiative entitled “Financing Climate Futures: Rethinking Infrastructure”.
The initiative aims to help countries deliver on the objective of making financial flows consistent with a pathway towards low emissions and climate-resilient development.
The Financing Climate Futures initiative adopts a foresight-based approach to consider the nexus between physical, economic and financial innovations in infrastructure, and the institutional context within which infrastructure procurement and investment decisions are made.
The initiative will help governments address the following inter-related questions:
- How will innovations in technologies, business models and finance shape the future of infrastructure and create new opportunities to combat climate change?
- To what extent are existing policy frameworks, institutions and financial systems fit for purpose in ensuring that infrastructure investments are consistent with a low-emission, resilient future?
- How could public and private actors work together to redirect financial flows at scale into activities compatible with a low-emission, resilient future?
- How can we enhance international and national co-operation to shift investment away from carbon-intensive infrastructure at the pace and scale needed?
The project deliverables include a scenario paper and a synthesis report to be launched in September 2018 and a series of case studies to be launched from September through the end of the year.