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So, what happened on finance in #ClimateActionSummit2019? One highlight was @IDFC_Network’s pledge to contribute more than USD 1 trillion of #climatefinance by 2025 bit.ly/2n4Sglt bit.ly/2mGrAaM
@IDFC_Network The much-anticipated MDB announcement bit.ly/2n508n1 also included large increases in #climatefinance (but do we understand the numbers? See initial reactions from @soniakdunlop and @joethw8s bit.ly/2lv8lRj)
@IDFC_Network @soniakdunlop @joethw8s Numerous countries pledged to double their @theGCF contribution, leading to hopes that the fund will be successfully replenished in dollar terms after a key conference in October bit.ly/2lvt33u
@IDFC_Network @soniakdunlop @joethw8s @theGCF Europe projected a transformative and systemic attitude to green finance with 25% of the next long-term budget dedicated to climate, and Europe/MS being the world’s largest #climatefinance donor bit.ly/2mBKmQo
@IDFC_Network @soniakdunlop @joethw8s @theGCF The @EIB was an important element of Europe’s #climatefinance offer, with Paris alignment by 2020 and 50% of funds for climate by 2025 bit.ly/2kZSN7A
@IDFC_Network @soniakdunlop @joethw8s @theGCF @EIB Meanwhile Mark Carney pushed governments to kick-start financial sector action by setting net-zero emissions targets and make #TCFDrecs mandatory bit.ly/2mABYRk 
@IDFC_Network @soniakdunlop @joethw8s @theGCF @EIB When it comes to new coal, the financial and other risks are now understood by an increasing number of countries (although still some way to go in Asia)
@IDFC_Network @soniakdunlop @joethw8s @theGCF @EIB Increasing climate impacts were cited by many countries and reflected by a steady flow of announcements on adaptation and #resilience finance including new pledges and a climate resilience bond from @EBRD bit.ly/2mCEYfU
@IDFC_Network @soniakdunlop @joethw8s @theGCF @EIB @EBRD Investors with $2.4 trillion of assets announced a Net-Zero Asset Owner Alliance to decarbonise investment portfolios by 2050 and engage with public policy on climate change unepfi.org/net-zero-allia…
@IDFC_Network @soniakdunlop @joethw8s @theGCF @EIB @EBRD Meanwhile, a group of investors with $35 trillion of assets have renewed calls for strong climate policy and reported on their own actions and engagement bit.ly/2l2T9dG bit.ly/2l2Uxgo
@IDFC_Network @soniakdunlop @joethw8s @theGCF @EIB @EBRD And 130 banks launched Principles for Responsible Banking (much needed - @EBRD finds that credit markets tend to raise national emissions while equity markets lower them) bit.ly/2ndnJ59 bit.ly/2l4FAKO
@IDFC_Network @soniakdunlop @joethw8s @theGCF @EIB @EBRD Lots of finance activity then. Does it all add up to what we need? Not yet – and the key blockers are political. COP26 will be a key meeting and finance has a strong party to play there. bit.ly/2mHurQq
