USD 100 trillion required for climate change initiatives

An investment of around USD 100 trillion is required to be spent over the next 15 years to fulfil climate change initiatives, said Zoë Knight, Managing Director and Group Head of HSBC’s Centre for Sustainable Finance.

Knight was speaking at the World Green Economy Summit 2017, which was held from October 24 to 25 in Dubai.

She said: “The funds would be used to build infrastructure systems that will enable us to achieve the targets of the Paris Agreement. Unlocking this capital is going to be a huge challenge for us all.”

Knight added that although some corporations have an environmental strategy, governments must play a critical role by setting renewable efficiency targets and offer incentives to propel the change and achieve the climate change targets by the deadlines.