The role of the global financial system in financing the transition to net zero

Alex Michie

Global Policy, 2022, vol. 13, issue 4, 557-562

Abstract: There is no net‐zero world without a sustainable trading system, and trade finance is estimated to contribute to between 80–90 per cent of all world trade. The first steps toward green ECAs have been taken, with the agreement announced at COP26 to end export credit support of unabated coal‐fired power plants and the first net zero commitments to be made by leading ECAs. In the coming months, there is an opportunity for the broader ECA community to step into the net zero‐fold and work with private finance, policy makers, scientists, and civil society to accelerate an orderly and just transition to a net zero global economy. Our world depends on it.

Date: 2022
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