Financing a sustainable transition : investment for growth and climate change action
Author(s)
Bibliographic Information
Financing a sustainable transition : investment for growth and climate change action
(Economic survey of Latin America and the Caribbean, 2023)
United Nations ECLAC, 2023
Available at 8 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
"The Economic survey of Latin America and the Caribbean is issued annually by the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC)"--T.p. verso
Includes bibliographical references
Description and Table of Contents
Description
The 2023 edition of the Economic Survey of Latin America and the Caribbean, the seventy-fifth issue, outlines the region's economic performance in 2022 and analyses trends in the early months of 2023, as well as the outlook for growth for the year and for 2024. It highlights the external and domestic factors that have influenced the region's economic performance and how these factors will affect economic growth in the coming years. Part II of this edition analyses the macroeconomic repercussions of climate change on the economies of Latin America and the Caribbean and the potential financial mechanisms for facilitating the investment needed to make economies resilient and drive dynamic, sustained and sustainable growth. The estimations presented in chapter II suggest that owing to the intensification of climate shocks, by 2050, the gross domestic product (GDP) of six countries of the region that are highly exposed to climate change risks could be between 9% and 12% lower than under a business-as-usual growth scenario. Fully offsetting these economic losses would require an exceptionally large additional investment effort, of between 5.3% of GDP and 10.9% of GDP per year. In view of the magnitude of this investment effort, chapter III posits the need for a framework with multiple sources of financing to ensure greater mobilization of domestic and external resources. Chapter IV explores the role that central banks and financial supervisors can play in addressing climate risks and strengthening sustainable financing and investment. The report also notes that decisive action is needed to align the requisite financial flows with national climate goals, by expanding the financing mechanisms available for financial intermediation, adjusting the management of central banks' asset portfolios to make them sustainable and supporting initiatives that foster the development of sustainable capital markets.
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