As we start the new year, I have had the opportunity to reflect on many things. One of them being what keeps people up at night? I get worried when I see the breadth of development challenges in emerging markets and developing economies (EMDEs), and in particular the gap from where we are as we work to address climate change, to where we need to be.
This month I had the opportunity to spend some time at COP28 in Dubai. Each year, this annual climate conference grows in importance as we collectively grapple with the challenges posed by the climate crisis – challenges that are becoming more complex and widely felt with each passing year, if not season.
Ahead of COP28, Climate Action caught up with Paulo Martelli, Chief Investment Officer at FinDev Canada, to discuss the blended finance solutions FinDev Canada offers to mitigate climate change.
A recent study by IDB Invest and FinDev Canada analyzes survey data from over 1,000 firms across 7 Caribbean countries in 2020, finding that investing in new or improved products, services, processes, methods, or distribution channels drives productivity and economic growth, and can also make companies more resilient in the face of crisis.
Emerging markets and developing economies (EMDEs) play a crucial role in the global economy, contributing 60% of the world's GDP and driving over a third of global GDP growth. However, the potential of EMDEs is often overshadowed by the challenges they face. At FinDev Canada, we recognize the significance of showcasing the potential of these regions to mobilize private sector investment and foster sustainable and inclusive development.
Last week, I had the opportunity to participate in several interesting events in and around Climate Week in New York. The discussions were important as we all consider the work needed to keep 1.5 alive and live up to the necessary ambition under the Paris Agreement.
