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COP26 Climate Brief: Scaling Finance for Transformational Climate Projects

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World Bank
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The Challenge

Impactful climate action will require immense resources to fund the transformational projects that reduce greenhouse gas (GHG) emissions and help societies adapt. It requires bold action and political will, especially from the biggest emitters, including shifting incentives away from fossil fuels, eliminating subsidies and pricing carbon appropriately through carbon taxes and regulations, and mainstreaming climate and disaster risks. Public and private sectors will need to invest heavily in a new low-carbon and climate resilient manner.