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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, Switzerland .
Climate finance typically refers to any financing that seeks to support mitigation and adaptation actions that will address climate change.
