International Monetary Fund (IMF) Deputy Managing Director, Gita Gopinath has pointed out the need for banking sector to build a solid information architecture to enable funding climate infrastructure projects.
“There is certainly a demand for climate finance, but we still have all kinds of holes in terms of data, in terms of information architecture. Concerns about greenwashing are relevant, and I don’t think we have managed to put together the information architecture that is needed, the transparency that is needed to get a lot of capital flowing quickly to climate space,” Gopinath said.
Gopinath who was previously Chief Economist of the IMF was speaking at a session themed ‘Are Banks Ready for the Future’at the ongoing World Economic Forum in Davos, Swtiterland.
Climate finance typically refers to any financing that seeks to support mitigation and adaptation actions that will address climate change.
