Oxford expert contributes to major report on scaling up sustainable finance in EU partner countries
The European Commission has this week received the final recommendations of the High-Level Expert Group on scaling up sustainable finance in low-and middle-income countries (HLEG), in the presence of International Monetary Fund Managing Director Kristalina Georgieva.
Dr Nicola Ranger, Executive Director and Programme Leader at the Environmental Change Institute, is one of 20 experienced senior, high-level members who make up HLEG along with a further 20 observers.
Dr Nicola Ranger is a member of the High-Level Expert Group (HLEG) on scaling up sustainable finance in low- and middle-income countries.
Since 2022, emerging markets have experienced the worst ever capital outflows. The report provides concrete and innovative actions the Commission can take to mobilise private capital for sustainable investments in Global Gateway partner countries.
Dr Ranger said: “We cannot achieve our net zero and sustainability goals unless we bring the whole world with us. Emerging and developing economies alone require additional investments of 4 trillion a year to meet the sustainable development goals, including a 2 trillion climate investment gap. Closing this gap is a win-win for society and investors and requires action at all levels, from removing artificial barriers in regulations of high income countries, to investing in better data and analytics and exploring new models of partnerships between the public and private sector.
“Fundamentally, we need to power up the global financial system to support the transition to nature-positive, resilient, green economies in all countries. It’s been a huge pleasure these past 18 months to work with the European Commission and experts and financial institutions from around the world to develop solutions. Now is the time to put words into action.”
