Climate Finance and Sustainable Developm

The course provides an overview of the opportunities and challenges of transnational financing from public and private sources that seeks to support mitigation and adaptation investments intended to address climate change. Although there is increased and widespread commitment to taking climate action on the part of corporations, financial institutions, countries and sub-national actors, there remains a paucity of examples where a just transition has been furthered. The conditions engendered by the advent of widespread pandemics have exacerbated global differences in capacity and access to solutions. Nevertheless, the emergence of new financial mechanisms and global cooperative responses to the pandemic have revealed potential methods to finance enhancements in mitigation and adaptation in the regions where these are most lacking. We examine current capital and trade flows and their relationship to flows of embedded carbon, methods of carbon pricing and the implementation of low-carbon pathways, with an evaluation of decentralized co-benefits that can advance sustainable development. We combine analysis of carbon accounting and financial structuring to design potential investments in example decarbonization projects which integrate additionality in mitigation and adaptation, co-benefits and poverty alleviation.