The Paris Agreement and countries’ nationally determined contributions represent important commitments to climate action; however, a collective plan to keep the global temperature increase to well below 2ºC has not been reached and the world risks being caught in a cycle of low and uneven growth. This policy brief proposes a comprehensive approach that links inclusive growth, sustainable development and the climate goals. It builds on a sustainable infrastructure with three key pillars: strengthening and reorientation of investment strategies to exploit the significant opportunities of low-carbon, climate-resilient infrastructure; transforming finance to enable and drive change; and phasing out fossil fuel subsidies and putting a price on carbon to harness the transformative power of the market and stimulate low-carbon investment.
Céline Bak is a CIGI senior fellow with the Global Economy Program and she serves as the co-chair of the Think Tank 20 (T20) task force on climate policy and finance. This task force will feed into the G20 Secretariat under the German presidency on carbon pricing, sustainable infrastructure and sustainable finance.
- Amar Bhattacharya
- Ottmar Edenhofer
- Brigitte Knopf