Business Standard

G20 must prioritise climate finance

Funding is also needed for the International Monetary Fund, the Asian Development Bank, even the private sector, to preserve biodiversity

climate finance, green bonds, climate change, global finance, global fundung, funding

Ajay Sagar

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Climate finance is complex and in a messy situation. Global climate governance needs strengthening with utmost priority. Public sentiment is desirous of directing savings and deposits towards green activity. Businesses, especially exporters, face multi-jurisdictional environment, social and governance (ESG) compliance. Options for climate finance need to be inclusive, and blended with nature-positive environment, social, and economic outcomes. G20 has its task cut out in addressing these issues.

The Bank for International Settlements has suggested reducing climate chaos through development of easy-to-understand taxonomy, standards, certifications, benefits, and assigning green outcome-linked ESG ratings. It’s not just funding. It’s about methodology supporting climate
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

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First Published: Mar 26 2023 | 6:03 PM IST

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