IFC’s Garcia Mora on the roadmap to scale climate finance

In this fireside chat, the IFC’s Alfonso Garcia Mora highlighted the four pillars for a successful strategy in mobilising climate finance:

1. Reforming policy and regulatory reforms at a country and global level;

2. Aligning the existing 30-plus different taxonomies across the world;

3. Developing innovative and targeted financial instruments;

4. Creating new partnerships to maximise collaboration.

“We have a big coordination failure,” says Garcia Mora on the need for institutions to work closely together, highlighting the role of multilateral bodies. Climate investments are, after all, a business opportunity.