Climate summit leaders hope to catalyze a key ingredient: Cash

Read the full story in the Washington Post.

World leaders looking for ways to slow climate change are zeroing in on a key element to actually help make that happen: the private sector and the vast amount of money it can invest to transform the global economy.

During a climate summit being convened by President Biden on Thursday and Friday, dozens of companies are expected to announce increased investment in renewable energy, electric vehicles and forestry as part of a push to decarbonize the globaleconomy by 2050. At the same time, the corporate community is facing heightened pressure to turn off the lending and investing spigot for fossil fuels and other sources of greenhouse gases.

The world’s poorer countries also are demanding the international financial sector channel more of its investments and loans to less-developed nations to help pay for reducing emissions — and to assist those countries in adapting to the climate impacts they already are confronting.

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