On top of stopping global warming, rich nations have geopolitical reasons to help the countries in the Global South transition from fossil fuels, writes Hugodixon
commissioned by the Group of Twenty major economies which concluded that the MDBs could increase their investment by several hundred billion dollars without raising any extra capital. This is because of their status as preferred creditors, which means they rarely lose much money even if borrowers default, and because they have $1.2 trillion in capital committed by their shareholders that they have not yet called.
The G7 can use guarantees in several other ways to make green investments in the Global South attractive to private investors, both through the MDBs and other vehicles. If they do this liberally, they may even be able to mobilise trillions of dollars.
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