Representatives from 13 countries discussed how to mobilize private sector funds to bolster investment in projects that could help developing countries prepare for and adapt to climate change, according to a summary of a State Department meeting released April 11. The participants focused particularly on investing in green infrastructure in emerging economies to encourage low-carbon development in fast-growing countries. Mobilizing private finance is cost-effective and can lead to greater progress on climate action than just using public funds, the participants said, according to a State Department summary of the meeting. Global capital markets have far greater resources than public budgets, the document states. Also, leveraging private investment allows for greater use of public resources in areas where attracting private investment is more difficult.
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