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Mobilizing climate finance flows

Nordic approaches and opportunities

image of Mobilizing climate finance flows

If the Agreement’s goal - limit the global temperature increase below 2°C - is to be met, all financial flows need to shift dramatically and rapidly from current investment patterns to 2°C compatible pathways. This study analyses the roles Nordic actors might play in mobilizing finance flows internationally and outlines a roadmap that can guide joint Nordic action during the next five to ten years. While the roadmap covers components of “climate related ODA” and climate compatible contributions from the private sector, the focus of the roadmap lies on the crucial bridging and dialogue that is required between key actors. Building on identified Nordic strengths and areas needing accelerated international support, the report concludes with a set of immediate next steps to operationalize the roadmap in 2017-2018.

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Executive summary

The Paris Agreement entered into force in November 2016, at the end of another record breaking year with global mean temperatures reaching around 1° C above preindustrial levels. If the Agreement’s goal to limit average global temperature increase to “well below 2° C” is to be met, all financial flows need to shift dramatically and rapidly from current investment patterns to 2° C compatible pathways (Article 2.1.c). This has major implications for finance institutions and actors globally, nationally and locally - both public and private.

English

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