As global leaders gear up for COP28 in Dubai, economists Nouriel Roubini and Reza Bundy are calling for a major shift in climate finance. Forget vague promises ('greenwishing') and misleading claims ('greenwashing')—they argue it's time to unlock private-sector capital to fight climate change. 💸
Why the Private Sector? 🤔
Public funding alone can't tackle the $3 trillion annual climate funding gap. The solution? Make climate investments profitable, liquid, and accessible to everyday savers. Think ETFs (exchange-traded funds) for climate projects! 📈
Climate-Proof Portfolios 🌦️🏠
The authors propose three key assets: 1) Climate-resilient real estate in stable regions like North America, 2) Infrastructure supporting renewable energy, and 3) Tech-driven solutions for carbon reduction. Bonus: These could rise in value as populations migrate from high-risk areas.
COP28’s Big Test 🔍
Will global summits finally bridge the gap between Wall Street and climate action? With digital innovation and smarter investment tools, 2023 might be the year climate finance goes mainstream. 🌐✨
