Climate change has been one of the most frequently discussed topics of the year on a global scale.
Multiple policies have been put in place; at the September 2016 G20 summit, leaders promoted climate change as a main concern of the modern era and cited “green finance” as one of the most effective ways to combat global warming. Interest in green finance (i.e., financial investment related to environmental or sustainable initiatives) has increased significantly. Green bond issuance totaled USD 42 billion in 2015, and issuance for 2016 has already surpassed USD 65 billion YTD.
Arguably, this discussion kicked off with the December 2015 Conference of the Parties (COP 21) in Paris, during which 197 countries agreed on their aim to keep global temperature rise “well below” 2ºC from pre-industrial times. This paper explores the ramifications of that goal and the movement toward COP 22.