Mobilizing Private Capital For Climate Action

credit:

In the fight against climate change, multilateral development banks often get the lion's share of the credit.

But there's more private capital out there than in the public eye, and it's being put to good use, Bloomberg reports.

"Quite frankly, there is more private capital available than public funds," says an analyst.

That's because there are roughly $100 trillion on asset management organizations' books at any given point.

One example: the Rockefeller Foundation, which has committed $10 billion to renewable energy over the next decade.

"There are facets of climate funds and public resources that take gender issues into account, there are opportunities for private capital to make direct connections to discrete climate change issues," says an analyst.

"Millions can move trillions, so the power of the work is in 'that ecosystem development.'" Another example: a group called Heading for Change is trying to make it easier for women to play a role in the fight against climate change.

"When you invest in women, you invest in their families, you invest in their countries, and you invest in the world," says a trustee of the group.

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