How can we pay for it all? Understanding the global challenge of financing climate change and sustainable development solutions

Abstract

Despite the heightened attention to climate change and sustainable development initiatives by governments, civil society groups, and private companies in the USA and worldwide, the international community is confronted with a question that has existed since the 1992 Earth Summit: how can we pay for it all? To better understand this climate change and sustainable development goals (SDGs) funding dilemma, there needs to be greater clarity around four climate change investment and finance-related questions that are frequently absent or inadequately addressed in the academic and policy literature. Firstly, what are or should be the boundaries of climate change investment and finance when the problem of climate change becomes impossible to separate from biodiversity, land use management, and other dilemmas related to the broader SDGs? Secondly, how we should define and what constitutes “adequate” financial resources to address the climate change and SDGs dilemmas on the global level? Thirdly, why is it important to close the gap between climate change adaptation and mitigation funding levels? Finally, what role should the private sector and business actors play in terms of climate change investment and finance issues? In addition to achieving greater clarity around these four issue areas, I argue in this article that three questions are likely to shape the future success (or failure) of the global climate change investment and finance architecture. One, what is likely path of the United Nations as a global climate change/sustainability governance institution? Two, will the emerging Green New Deal model in the USA and in other countries actually materialize? Three, what is the future outlook for “market-fixing” sustainability-driven enterprises?

Políticas públicas sobre el cambio climático

“…Para Fischer et al (2022) el método se basó en el análisis histórico e interpretación de cómo las lagunas eran afectadas por las capas de hielo qué se derretían año tras año. También, la pérdida de biodiversidad ha hecho que sea difícil la adaptación al cambio climático debido a la contaminación, agua, suelo, así como otros problemas (Park, 2022). Mediante sistemas de medición avanzadas se llegó a medir las profundidades de las heladas (~0,01 % de N) debido a ello disminuyó el carbono de 10 % hasta el 30 % (Muthee et al, 2022).…”

“…Para entender la problemática, Fischer et al (2022) quienes explicaron que uno de los posibles indicadores para saber cómo se encuentra el clima a nivel mundial es la observación de los Alpes suizos, notándose que en la actualidad ha dejado de ser una gruesa capa de hielo y por ende, podrían estar disminuyendo los niveles de agua dulce. Sin embargo, Park (2022), desde otro enfoque, atribuye el problema a la dejadez de los gobernantes para afrontar temas medioambientales y el cambio climático debido al poco interés sobre el tema y el ineficiente liderazgo que ejercen. Por otro lado, debido a la pérdida del hábitatproducto de la deforestación en la selvase viene causando alarma mundial pues se entiende que ello representa la conservación del medio ambiente en relación con las funciones ecológicas, económicas y de carácter social (Muthee et al, 2022).…”

Scoping article: research frontiers on the governance of the Sustainable Development Goals

“…As the business sector is considered paramount for bridging the SDG (finance) implementation gap, scholars need to dive into the study of SDG funding and financing (Park, 2022) and how this affects the narratives on development finance (see Mawdsley, 2021) and ultimately power dynamics. Power relations between states are also an emerging research topic.…”

Evaluating Environmental, Social, and Governance Criteria and Green Finance Investment Strategies Using Fuzzy AHP and Fuzzy WASPAS

“…This sub-criterion evaluates the amount of community involvement in the creation and implementation of green finance investments, as well as the ability of communities to have an impact on policy. [42,43] Human rights (S2)…”