UK PACT Green Recovery Challenge Fund

UK PACT Green Recovery Challenge Fund

By On Jumat, Agustus 28 th, 2020 · no Comments · In ,

 

Funding window description under the Green Recovery Challenge Fund, a capacity-building fund to support low-carbon transitions and a green, resilient and inclusive economic recovery.

Around the world, climate change poses a systemic risk to economies and financial systems. In the wake of COVID-19, these risks and impacts have worsened, and many countries are responding to the pandemic with economic stimulus packages. The lack of climate risk management in a country’s financial system jeopardises its economic and sustainable development. This vulnerability restricts access to finance and investment, which is needed for the long-term recovery after the pandemic. The Paris Agreement climate targets require significant investment. The COVID-19 pandemic exacerbates the challenge but crystallises the need for green recovery investment to minimise climate risk.

 

BEIS_UK PACT-Greening-financial-systems_PH6