Jean-Marc Champagne, managing director at Seneca Impact Advisors, said “The annual SDG [sustainable development goals] investment gap in developing countries has exploded to a staggering $4 trillion, threatening the very foundation of sustainable development. “A colossal $2.2 trillion is urgently needed each year just for the energy transition, a critical component in combating climate change. The current financial commitments fall drastically short of what is needed to achieve the SDGs and address the climate crisis. Immediate and radical reform of the international financial system is imperative to ensure it can adequately support SDG financing and avert a global development and environmental crisis. Substantial financial support is urgently needed to originate and develop nature and climate-positive projects. Without this, financial flows won’t meet the critical need for enhancing climate resilience and preserving and restoring nature.”
25 November 2024 | Environmental Finance | Media
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