Unlocking the Inclusive Growth Story of the 21st Century: Accelerating Climate Action in Urgent Times

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December 2018
Source: 
New Climate Economy (NCE)

This report sets out the policy and investment priorities for growth that is strong, sustainable, balanced, and inclusive, and will result in efficient, liveable cities; low-carbon, smart and resilient infrastructure; and the restoration of degraded lands while protecting valuable forests. 

Focusing on five key economic systems —energy, cities, food and land use, water, and industry— the report identifies the following priorities for urgent action:

  • Pricing carbon and moving toward mandatory disclosure of climate-related financial risks, as part of a broader policy package.
  • Accelerating investment in sustainable infrastructure, supported by clear national and sub-national strategies and programmes.
  • Harnessing the power of the private sector, including to unleash innovation and advance supply chain transparency.
  • Ensuring a people-centred approach, such that the gains are shared equitably and the transition is just.

The report emphasizes that accelerating action will require decisive leadership, strong collaboration, and finance. Finance ministers and development finance institutions (DFI) have a critical role to play in guiding investments in the short-term to meet the long-term needs of society, and in setting the right policy and institutional conditions to unlock muchneeded private capital at scale.

This report builds on the flagship report of the Global Commission on Economy and Climate, Better Growth: Better Climate, which conclusively showed that higher quality growth can be combined with strong climate action.