IFC and donor partners Denmark, Finland, Iceland, Norway, and Sweden recently hosted a multi-stakeholder symposium on climate change in Copenhagen. The gathering focused on the theme Global Climate Change – Financing Private Sector Opportunities in Developing Countries. It marked the first time that private sector leaders, development agencies, and commercial and development finance institutions from the Nordic region discussed opportunities to collaborate and address climate change in developing countries.
The United Nations Framework Convention on Climate Change estimates that about $200 billion in investments is needed each year to address climate change in the developing world. Although about half of this can come from carbon market transfers and donors, there is growing recognition that the private sector has a role to play if the consequences of climate change are to be addressed fully.
IFC helps private sector companies identify climate change-related business opportunities. It also helps develop business and financing models that allow real sector companies and financial institutions to invest securely in emerging markets. The symposium in Copenhagen offered a platform for the private sector to explore opportunities and discuss challenges.
For more information about IFC and climate change, visit www.ifc.org/sustainability.
Published on April 4, 2008
