This year, Building Bridges, the leading sustainable finance conference in Switzerland, was held at the Centre International des Conférences de Genève (CICG). Across 65 events, Building Bridges 2023 explored concrete ways to achieve the United Nations Sustainable Development Goals (SDGs), with a focus on a number of key themes, such as the electrification of our energy system and the need to mobilise trillions to build a nature-positive economy.
climate change and the speed of the finance transition
To meet the Paris temperature targets, global greenhouse gas emissions must be reduced by 50% by 2030 and 100% by 2050. International pledges alone will not be sufficient to achieve the reduction needed – sustainable finance will be key, as companies and entire industries look to build out cleaner infrastructure and adapt their processes.
At Building Bridges 2023 was reminded that between now and 2030, a massive capital expenditure of more than USD 24 trillion will be ploughed into the electrification of our energy systems and that by 2050, 70% of the economy will be electrified. In our energy systems, he explained, capital is flowing for the transition from fossil fuels to renewable electricity: “In the Global North, with the building blocks of electrification, we have crossed tipping points and are moving towards mass adoption
This major system change represents one of the greatest investment opportunites of all time.
The scale of the electrification transformation is huge. By 2030, we’ll have invested more than USD 24 trillion of capex. By 2050, 70% of the economy will be electrified. Investors have a key role to play in accelerating the transition, and in the promising investment opportunities it is unlocking
Michael Urban, Chief Sustainability Strategist
finance for nature
More than half of the world’s gross domestic product (GDP) is directly dependent on nature and the ecosystem services it provides. Yet, it is our current flawed economic system that is pushing the earth towards a climate change tipping point. Sustainable finance has the power to create direct value in nature preservation and restoration, but too often programmes fail to deliver on their promises, or become beset by allegations of greenwashing. At this year’s edition, nature was at the heart of the discussions, with a strong focus on technical solutions.
Read more here : Building Bridges 2023: mobilising trillions to create a net-zero, nature-positive economy
sustainable development
The transition to a sustainable economy will only succeed where a development solution is found that is fair for all – the burden cannot fall hardest on those who can afford it least. In giving voice to a cross-section of experts, advocates and financial institutions from across the Global North and South, Building Bridges explores equitable sustainable development pathways that enable development where it’s needed, without further compromising the global emissions reduction trajectory that must be followed to achieve the Paris climate goals.
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