Creating sustainable and climate-friendly infrastructure will require finance that is fit for the future
People cool off at a fountain in Madrid Rio Park during the second heatwave of the year in Madrid, Spain. Picture: REUTERS/ISABEL INFANTES
We can do that by providing capital to finance the investment in renewables, climate adaptation technologies and the transition to a “circular economy” that encourages the sustainable use of resources. While stimulating growth through investment in roads, buildings and power supplies isn’t a new strategy, now it offers an opportunity to redefine the traditional playbook and focus on investing and financing sustainably for the longer term.
Projects that are climate adapted from the outset reduce some of these risks and are more likely to stand the test of time, so banks will need to take into account the potential climate risks over the lifespan of the project to ensure resilience and protect investments.
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