Financing Climate Futures

Rethinking Infrastructure

image of Financing Climate Futures

Infrastructure worldwide has suffered from chronic under-investment for decades and currently makes up more than 60% of greenhouse gas emissions. A deep transformation of existing infrastructure systems is needed for both climate and development, one that includes systemic conceptual and behavioural changes in the ways in which we manage and govern our societies and economies. This report is a joint effort by the OECD, UN Environment and the World Bank Group, supported by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety. It focuses on how governments can move beyond the current incremental approach to climate action and more effectively align financial flows with climate and development priorities. The report explores six key transformative areas that will be critical to align financial flows with low-emission and resilient societies (planning, innovation, public budgeting, financial systems, development finance, and cities) and looks at how rapid socio-economic and technological developments, such as digitalisation, can open new pathways to low-emission, resilient futures.



Plan infrastructure for a low-emission and resilient future

The transition towards low-emission, resilient economies presupposes far-reaching changes to infrastructure, technology and industrial systems that will require prudent planning. This chapter makes the case for improved planning practices as a prerequisite for successfully delivering on both climate and development objectives. It identifies barriers for implementing changes and emerging good practices in reconciling long-term climate and development objectives with near-term demand for infrastructure services. The chapter outlines three priority actions: develop new institutional configurations to align today’s decisions with long-term objectives, ensure that resilience to the impacts of climate change is a central component of planning, and harness the benefits of foresight to complement climate models in strategic planning.


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