COP27 - "SaveMyWorld" allocation is the simplest solution

"Concluding more than 39 hours after the scheduled close, the Sharm El-Sheikh Climate Change Conference agreed new funding arrangements for assisting developing countries that are particularly vulnerable to the adverse effects of climate change in responding to loss and damage – an historic milestone in climate talks"

COP27 was to find means and ways to fund the climate transition. From what we have learnt, yet again, there has been no formal and concrete announcement on what those funding structures would be. There is also little clarity on how much and from where would they funding come from.

We had suggested a simple solution. Every Asset Owner - be it a pension, sovereign, endowment, insurance companies, wealthy individuals - allocates 1% of their assets under management into a 'SaveMYWorld' investment bucket. This capital is then used to fund climate transition projects in the developing world.

We estimated that 1% of the total wealth would amount to USD 2.5-3.0 trillion. A large amount, which will meet the needs and requirements of just transition.

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#cop27 #SaveMyWorld #climatefinance #justtransition