Kevin Gallagher quoted in The Tico Times
With COP21 underway, development banks urged to boost ‘green finance’ in Latin America
WASHINGTON, D.C. – Mitigating the expected ravages of climate change – let alone investing in sustainable infrastructure projects – won’t come cheap, say finance experts who calculate the cost at a staggering $110 billion a year for Latin America alone.
As negotiators from 195 countries gathered Monday in Paris for 12 days of make-or-break climate change talks under the COP21 banner, a small group of scholars met in Washington to discuss the role 11 leading development banks can and should play in promoting so-called “green finance” across the region.
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