Raising US$23 Trillion : Greening Banks and Capital Markets for Growth

Kludovacz, Tibor ; Stein, Peer ; Rooprai, Gursimran

International Finance Corporation, Washington, DC

关键词: EMERGING MARKET ECONOMIES;    CLIMATE CHANGE;    CLIMATE FINANCE;    GREEN BONDS;    CAPITAL MARKETS;   

RP-ID  :  131346

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

In December 2015, at the Conference ofthe Parties 21 (COP 21) in Paris, France, 196 countries cametogether to forge a climate change agreement that pledged tokeep global warming to 2 degrees Celsius or less. To bringthe world to this 2-degree track, the international energyagency estimates that the cumulative investments needed inenergy supply and efficiency reach United States (U.S.) 53trillion dollars. Based on the International FinanceCorporation (IFC) analysis of U.S. 23 trillion dollars inclimate-smart investment opportunities in emerging marketsbetween 2016 and 2030, this paper analyzes the role of thebanking sector and debt capital markets to provide thefinancing necessary. Banks will need to rely on debt capitalmarkets to help with the necessary maturity transformationto match primarily longer dated assets with long-termliabilities. The paper concludes with several case studiesthat showcase how lenders leverage debt capital markets toincrease their lending capacity to meet the significantfinancing needs that the climate transition presents.