In the face of climate change, the private sector has a unique opportunity to help the financial system address the issues facing our planet. A report published by the European Commission estimates that 80% of the additional investment required in 2030 will be for the green transition. This means that the private sector must be able to access the financing necessary to make this happen. The EU’s leaders called for rapid progress in green finance in December 2020. The EIB has been a leader on this issue since 2007 when it launched green bonds and partnered with other institutions to finance these projects.
By 2030, the United States must protect 30 percent of its land and oceans. It must also implement climate-smart practices on 100 million acres of land. The country must also deploy natural and technological solutions for sequestration of carbon dioxide. Despite the challenges, the green movement presents an extraordinary opportunity for banks and other industries. If we are to meet this ambitious goal, we must ensure that we are acting responsibly.
Last Speech
By 2020, the United States will have to protect thirty percent of its lands and oceans and adopt climate-smart practices on one hundred million acres. It must also implement natural and technological solutions for carbon sequestration on the remaining 60 percent of land. In addition, we must protect our coastlines from rising sea levels. By 2030, we will also need to sequester more than 90 percent of the world’s carbon dioxide.
