Paying Africa’s Climate Bill
The current pattern of energy investment inAfrica highlights both the opportunity to do better and the failure of a systemwithout coordinated incentives The burning question is how governments andinternational institutions can nudge corporations to protect the
globalcommons by investing in the low-income countries with the greatest need forclimate financing? Michael Olabisi notes in his
IMF article that thespeed necessary for effective climate action, especially in many Africancountries, calls for private sector initiatives, along with astute globalgovernance. Policymakers and the private sector will have to agree that thebetter way to profit from private enterprise must be ecologically sustainable.The private sector and its linked equity markets can, with the right policyguidance, channel resources to finance a green transition faster thangovernments can raise debt for a purely public approach to salvaging the globalcommons.
https://www.imf.org
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