There is a broad consensus that private finance has an important role to play in financing the climate transition, given the scale of needs and the constraints on public finances. Beyond investments in climate alone, all financial activities must be reoriented to be compatible with the transition. This shift cannot take place on a voluntary basis at the scale and speed required. The inactivity of financial players, the weight of past financing, and the demands of shareholder profitability limit the effectiveness of voluntary international initiatives to which private financial players commit themselves.Read the article
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