From Breakingviews: The financial resources being committed to tackling climate change are puny compared to what's needed
United Nations Secretary General Antonio Guterres speaks during the opening of the 2019 United Nations Climate Action Summit at U.N. headquarters in New York City, New York, U.S., September 23, 2019. REUTERS/Carlo Allegri
Take green bonds, where companies raise money that they promise to spend on environmentally sound projects. The amount of these securities issued may rise by almost 50% this year and hit a record, the Climate Bonds Initiative estimates. But at $250 billion, this year’s total sold would represent just 2.5% of all debt capital markets. Related funding tools like bonds linked to one or more of the U.N.’s 17 sustainable development goals barely nudge that figure above 3%.
Why is the gap so large? Investors may worry about putting money into emerging markets, whose currency and political risks they see as too high. But there are more pedestrian reasons. Oil producers may be dirty but investors have had decades to understand how to value them. Putting money into, say, a wind farm instead may not seem such a sure thing. Subsidies make renewables more attractive, but could disappear if government changes.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Big Banks Loom Over Fed Repo EffortsAs the Fed increases lending in the repo market, it is reliant on a small group of bond dealers to recirculate that money, increasing opportunities for market channels to get clogged
Baca lebih lajut »
HuffPost is now a part of Oath
Baca lebih lajut »
Meet the youth activists fighting for climate action - CNN VideoGreta Thunberg is joined by teen activists from all over the world fighting for action against climate change.
Baca lebih lajut »
Students keep up the heat with worldwide climate protestsThousands of protesters, including many students, gathered in a worldwide strike in cities from Rome to Seoul, demanding greater action from world leaders on climate change policies in worldwide strike.
Baca lebih lajut »