Achieving climate-resilient economies and societies will not only require increasing the billions of financial flows for adaptation, but also to shift broader — public and private — financial flows and investment away from potentially mal-adapted activities towards those that contribute to climate resilient economies and societies.
The goal of aligning finance with climate-resilient development is included in article 2.1c of the Paris Agreement, yet efforts to define and – ultimately – operationalise this concept are at an early stage. There remain signficant conceptual challenges and technical obstacles to moving forward on this agenda.
This paper was produced to support discussions about how to make progress on this agenda. It was prepared for the event, “Aligning Finance with Climate-resilient Development”, which will be hosted at the COP26 on the 2nd of November. This event will be streamed on the EIB platform and the OECD’s Virtual Pavilion.
The views and opinions expressed in this Paper are solely those of the authors and do not necessarily reflect those of the OECD or of the governments of its member countries. We welcome your views and comments on the ideas explored in this paper.
Authors:
Michael Mullan (OECD) – michael.mullan@oecd.org
Nicola Ranger (CGFI) – nicola.ranger@smithschool.ox.ac.uk
