CFOs Respond to the Call for Greater Private Sector Investment in Climate Action at COP28
Dubai, United Arab Emirates, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Today, during the SDG Investment Forum at COP28, the UN Global Compact CFO Coalition for the SDGs demonstrated the importance of corporate investments and financing for climate action, effectively heeding increasingly louder calls for greater private sector investment.
- Dubai, United Arab Emirates, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Today, during the SDG Investment Forum at COP28, the UN Global Compact CFO Coalition for the SDGs demonstrated the importance of corporate investments and financing for climate action, effectively heeding increasingly louder calls for greater private sector investment.
- Corporations are expected to be the largest direct investors in climate change mitigation, accounting for roughly one-third of the total investment needed between now and 2050, which some estimate could amount to US$ 275 trillion.
- Private climate financing must play a pivotal role as emerging markets and developing economies seek to curb greenhouse gas emissions and contain climate change while coping with its effects.
- The Forward Faster initiative aims to mobilize private sector action where it can collectively make the biggest, fastest impact by 2030, focusing on gender equality, climate action, living wage, water resilience and finance and investments.