Nedbank reposted this
Chairman: Nedbank Group Ltd. | Board Member of Salzburg Global Seminar | Board Member of Youth Employment Service (YES)
Earlier this week, I delivered the keynote address at a B20 South Africa event co-hosted by Nedbank, British International Investment and Boston Consulting Group (BCG), on the sidelines of the International Monetary Fund/The World Bank Annual Meetings in Washington D.C., where I conveyed the message that we are at a crucial point for global climate finance. Although capital flows have hit record levels, too little is reaching the countries and communities most in need. Emerging and developing economies face a widening gap, receiving only a small portion of the funding needed for a just energy transition. Adaptation remains chronically underfunded, forcing those least responsible for climate change to shoulder the highest costs. To address this, we must move from analysis to action, and from scale only, but also to fairness. Success will be judged not by how much capital is raised, but by how effectively it reaches those who need it most. A just transition is not only about decarbonisation, but also about creating opportunities - everywhere. The link below takes you to the key points I made in the keynote address. #B20SouthAfrica #ClimateFinance #JustTransition #EnergyTransition #SustainableDevelopment