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.