What is the road ahead for interconnected carbon pricing systems and CBAMS?
December 9, 2023
Bellona Foundation Pavilion, Zone B7/88, Blue Zone, COP28
A green and just transition requires the mobilisation of additional capital from both public and private sources.
Financial and non-financial support mechanisms are needed, as is credible information on economic activities’ contribution to the fight against climate change.
This is crucial to shift capital flows from high-emitting to low-carbon and renewable projects.
The failure of markets to deliver in the fight against climate change has made it clear that public intervention is necessary. Such an intervention must take the form of financial and non-financial support mechanisms, based on clear criteria and information about economic activities’ contribution to climate mitigation.
Transparent and credible information about different economic activities’ contributions to the fight against climate change is critical to address investment risks and uncertainties that prevent further mobilisation of private capital.
However, mobilising additional capital alone is not enough. It is also essential to shift capital flows from high-emitting economic activities to low-carbon and renewable initiatives, technologies, and projects to achieve climate targets.
December 9, 2023
Bellona Foundation Pavilion, Zone B7/88, Blue Zone, COP28
December 8, 2023
Bellona's Pavilion, Blue Zone COP28
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