Green Growth Action Alliance Launches in Mexico
As part of the B20 Summit in Los Cabos, Mexico, the B20 Green Growth Task Force and the World Economic Forum announced the launch of the Green Growth Action Alliance, a new partnership initiative addressing the estimated $1 trillion annual shortfall in green infrastructure investment.
Ditlev Engel, chief executive officer of Vestas Wind Systems and co-chair of the B20 Green Growth Task Force stated, “Each year, $1 trillion is needed to deliver the necessary infrastructure to shift us onto a low carbon path. Public finance is constrained or shrinking, and the only way to deliver this green infrastructure is to mobilize more than $100 trillion in assets under management by the private finance community.”
Fulvio Conti, chief executive officer and general manager of Enel and co-chair of the B20 Green Growth Task Force added, “Sustainable growth generates multiple and mutually reinforcing benefits such as low carbon economy, accelerated job creation, healthier and wealthier populations, greater resource efficiency and biodiversity, and expanded access to more secure energy supplies. Through a more unified, coherent policy framework, business will be able to make the necessary investments in new opportunities that the green economic transformation promises,” he concluded.