COP18: New finance model needed to spend climate cash

COP18 (06/12/12) – Steve Podmore, founder of Transform Capital Management, explains why he believes a new model is required to attract large volumes of cash into the longer term investments necessary to tackle some of the challenges of climate change.

By pooling money from a number of different types of investor, including Governments, philanthropists and pension funds, Podmore says the concerns of the different groups can be allayed and the investment risk shared and so reduced. This format is an ideal way to use climate finance as it fills gaps that traditional investors choose to ignore.

“The Green Climate Fund, all the thought has been about how to raise the money, not how to deploy it. I think we need new mechanisms, systems and cultures so that the people who are motivated can overcome the inevitable pushback from conventional markets,” says Podmore.