Document summary
Investment of some $90 trillion is needed in the next 15 years to achieve global sustainable development and climate objectives, according to estimates put forward by the Group of Twenty's 'Green Finance Synthesis Report'. Over $800 billion needs to be invested every year to 2020 in renewable energy, energy efficiency, and low-emission vehicles alone, according to OECD estimates. To put it all in to perspective, global investment in clean energy in 2016 was less than $300 billion. In the authors’ view, a key enabler for higher levels of investment in clean energy and other sustainable infrastructure is a standard by which investors can assess the relative merits of a project to be financed. Such a standard should cover transparency, governance, and environmental impact, as well as, contributions to decarbonization, pollution reduction, and resilience to severe climate impacts. Information about the environmental benefit of an investment has become essential to investors seeking to meet green mandates and to mitigate the potential future risk of climate-related events.