Money makes change. There’s enough of it in the world both to stop climate breakdown and meet all human needs. But it tends either to be in the wrong hands, with more going to those who already have enough, or is being spent on the wrong things like fossil fuel subsidies and arms.
In recent years, however, it’s been shown that huge sums of money can be found by governments overnight, or created, when they think something is important enough. Once hard-set policies can change just as quickly. Both happened after the banking crisis of 2007-2008, with trillions, globally, used to stimulate economies and save the financial system.
Innovative ways are emerging everywhere to fund fair and rapid low-carbon transition. From bond issues for community-based, small- and medium-scale renewable energy projects, to new financial institutions to support new large-scale, low-carbon infrastructure, people are finding the money to make rapid transition possible. More and faster is needed, and how it should be directed is a crucial question for all, but momentum is growing.