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Cambridge Institute for Sustainability Leadership (CISL)

Dr Nina Seega, Director, Centre for Sustainable Finance, CISL, said:

“The lack of private finance for climate action in EMDEs is a stark reality; while the challenges, such as the current multilateral financial architecture's struggle to deliver financing at the necessary scale and speed, are pressing, the solutions are within our reach. The impact of harnessing these solutions is transformative, enabling a surge in private capital needed to unlock the 5 trillion per year climate investment.”

The Rt Hon the Lord Mayor, Alderman Professor Michael Mainelli, said:

“Scaling private finance has a critical role to play in bridging the climate and nature finance gap. We need simple risk-reward mechanisms and incentives that would foster the mobilisation of private capital to achieve the desired climate and nature financing, particularly in emerging market and developing economies. The work of the Cambridge Institute for Sustainability Leadership offers a timely perspective to this conversation in the run up to COP28.”

Natalia Moudrak, Head of North America, Aon Climate, said:

“Scaling up climate and nature investments will continue to require public and private sector collaboration. This report shares a range of approaches on how to accelerate this much needed investment, in a way that drives multiple sustainable development objectives at once – on climate, on biodiversity, and local economic wellbeing. (Re)insurance data can help quantify the benefit of such investments, and can help unlock capital to mobilize private sector participation in the innovative financial structures, such as those set out in the report.”

Christoph Baumann, Envoy for Sustainable Finance, Swiss State Secretariat for International Finance (SIF), said:

“To address global challenges, such as climate change and the loss of biodiversity, the financial capacities of MDBs should be strengthened and private finance further mobilised.”

Thomas Tayler, Head of Climate Finance, Aviva Investors Sustainable Finance Centre for Excellence, said:

“If private finance can be incentivised to move capital at sufficient scale, then it has the power to mobilise the substantial sums of investment needed for a just and nature positive climate transition. To make this possible, markets need to have market conditions that give them confidence to commit capital. Comprehensive, clear and consistent national transition plans that can change incentives and align markets with the transition are a critical part of that process. These plans could provide the impetus that creates tipping points and makes the transition exponential.”

Diana Acconcia, Director for International Affairs and Climate Finance, DG Climate Action, European Commission, said:

“With nature-based solutions being essential also for climate change mitigation and adaptation, CISL provides a valuable contribution to policy makers on rapidly raising private finance to levels needed to complement to public sources. This could not be more timely, also in view of the additional challenges now posed by the global macroeconomic context.”

Ahmed Saeed, Chief Executive Officer, Allied Climate Partners, said:

“Private capital must be mobilized at scale to address the looming crisis that is climate change. All too often, however, proposed solutions are transactional in nature and fail to appreciate the comprehensive and system level aspects of the problem. This report is different - it considers the full range of issues, from the need for reform of tools and policies to that of institutions and the relationships between them. We must all work together to turn these recommendations into reality.”

Everything, everywhere, all at once: how can private finance be unlocked for nature and climate in the international financial architecture?