Brussels
"Global Public Investment Requirements for Zero Carbon examines how international aid, loans from development banks and export finance all continue to fund fossil fuel-dependent developments. This is particularly true in the transport sector, which soaked up around 20% of global official development assistance from 2014-2019. And rather than zero carbon transport systems to serve local populations, much of this aid is funding new roads, airports, ports and rail projects that support export-orientated economic growth.
The report sets out three clear recommendations the following:
- Climate finance must be additional to the meeting of existing 0.7% target for aid;
- All countries must stop financing infrastructure that locks in fossil fuel use and align aid and public expenditure to tackling the climate and ecological emergency;
- Global public investment must be more accountable, equitable and effective."
"Global Public Investment Requirements for Zero Carbon examines how international aid, loans from development banks and export finance all continue to fund fossil fuel-dependent developments. This is particularly true in the transport sector, which soaked up around 20% of global official development assistance from 2014-2019. And rather than zero carbon transport systems to serve local populations, much of this aid is funding new roads, ...
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