Further funds to fight climate change must come from private sector – French finance minister - WKZO
Further funds to fight climate change must come from private sector - French finance minister | WKZO | Everything Kalamazoo | 590 AM · 106.9 FM
PARIS (Reuters) – French Finance Minister Bruno le Maire said on Tuesday there was no more public funding available to fight climate change as France was already investing some 40 billion euros in different projects.
Further financing should come from the private sector, he told a conference of the International Energy Agency.
(Reporting by Forrest Crellin; Editing by Gareth Jones)
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”