COP27: Government action crucial to climate finance, says Carney

Finance experts outline four demands for policymakers at COP27, including driving up clean energy investment and aligning financial regulation with net zero. Meanwhile multilateral development banks’ climate commitment is questioned and the Net Zero Asset Management initiative announces new targets.

Governments must do more to create a supportive regulatory environment if financial institutions are to meet their net zero pledges, and private sector climate finance is to be ramped up to the levels required to decarbonise in line with the Paris Agreement. This was the clear message from former Bank of England governor Mark Carney and other finance experts attending Finance Day at COP27 in Egypt, on Wednesday.