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Middle East and Central Asia > Oman

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Cover Staff Climate Notes
Mobilizing Private Climate Financing in Emerging Market and Developing Economies
Mr. Ananthakrishnan Prasad
,
Ms. Elena Loukoianova
,
Alan Xiaochen Feng
, and
William Oman
Global investment to achieve the Paris Agreement’s temperature and adaptation goals requires immediate actions—first and foremost—on climate policies. Policies should be accompanied by commensurate financing flows to close the large financing gap globally, and in emerging market and developing economies (EMDEs) in particular. This note discusses potential ways to mobilize domestic and foreign private sector capital in climate finance, as a complement to climate-related policies, by mitigating relevant risks and constraints through public-private partnerships involving multilateral, regional, and national development banks. It also overviews the role the IMF can play in the process.
Keywords:
climate finance; sustainable finance; climate change; sustainable development; financial policy; capital flows; IMF staff Climate note; IMF analysis; venture capital; private sector capital; climate investment; economic gain; public finance; adaptation investment; private sector investor; Bloomberg finance L.P.; investment project; equity capital; adaptation investment project; climate investment decision; Public sector; Non-renewable resources; Global
Cover IMF Working Papers
Climate Action to Unlock the Inclusive Growth Story of the 21st Century
Amar Bhattacharya
,
Maksym Ivanyna
,
William Oman
, and
Nicholas Stern
Climate change is a major threat to the sustainability and inclusiveness of our societies, and to the planet’s habitability. A just transition to a low-carbon economy is the only viable way forward. This paper reviews the climate change challenge. It stresses the criticality of systems changes (energy, transport, urban, land use, water) in a climate-challenged world, and the importance of infrastructure investment geared toward such systems changes. The key policies to enable the transition are: public spending on and investment frameworks for sustainable infrastructure, pricing carbon, regulations, promoting sustainable use of natural resources, scaling up and aligning finance with climate objectives, low-carbon industrial and innovation policies, building resilience and adaptation, better measurement of well-being and sustainability, and providing information and education on climate risks. Implemented well, climate action would unlock the inclusive growth story of the 21st century, making our societies more sustainable, inclusive, and prosperous.
Keywords:
climate change challenge; climate change mitigation; low-carbon economy; climate action; challenge of climate change; Climate change; Natural disasters; Greenhouse gas emissions; Global; South Asia