Updates from COP 24 As governments wobble, private sector takes the lead on climate action. Journalist Lou del Bello is in Katowice, Poland at COP 24, the global climate talks aimed at implementing the Paris climate accord. She took up ImpactAlpha’s challenge to find reasons for optimism. Her nominee: private capital. “While pessimism still
- The Belgian impact investor is backing Nicaraguan microfinance organizations Fundenuse and Micrédito in rolling out “event-based” insurance policies to 6,000 small farmers.
- Climate adaptation has remained largely overlooked and underinvested. Now, investment funds and vehicles that target adaptation solutions are beginning to line up to move significant amounts of capital.
- What it signals: The willingness of oil and gas majors to play ball with the big capital allocators – who increasingly view climate change as a major systemic risk facing society… and their long-term portfolios – as well as Shell’s desire to be seen at the forefront of the energy transition.
- There’s a mismatch between increasingly dire forecasts of catastrophic climate change and the sedate growth of climate financing.
- The Green for Growth Fund has loaned hundreds of millions of Euros to borrowers, ranging from a hydro-power developer in Albania, a bank in Egypt developing a line of green finance products, and a financial institution in Ukraine helping households reduce energy costs and consumption.
- Investors are increasingly pressing oil companies to account for their climate risk under the recommendations from the Task Force on Climate-related Financial Disclosures