Postcard from Katowice: Friday, December 7
Colleagues from GCF's Private Sector Facility led an event on Green Banking, before signing a private sector project agreement that will bring rooftop solar to India, in partnership with NABARD and executed by Tata Cleantech. A GCF 101 introductory session on private sector engagement was likewise held.
So why such attention to the private sector at the COP? Whilst the commitments made under the Paris Agreement are made by governments, there is widespread agreement that it will take a massive injection of private sector capital, together with public funds, to deliver on those commitments. One of the goals for GCF is to use its resources to mobilise private funding - and today provided some great examples as to how that can be achieved, from green banking to renewable energy.