Climate Change Finance, ESG, and Geography

Keywords: climate change, finance, ESG, geography
Abstract Type: Paper Abstract

Abstract

Most geographers would agree that Climate Finance is an obligation, a moral and legal obligation; it is not optional.

But where are we now? After years of elusive and disappointing attempts to design robust financing programs by governments, we still cannot fund the actions needed to combat climate warming (reference the "litany of broken promises delivered by governments" during the Glasgow COP meeting). And many of the private sector financing methods have not been stellar either, plagued by flawed carbon markets, greenwashing, and poor data.

During the 2022 COP27 meeting in Egypt, US White House climate envoy John Kerry proposed a contentious but promising new carbon-credit market. Supporters of the plan included Rockefeller Foundation, the US Department of State, the Bezos Earth Fund, and private companies ranging from Microsoft to PepsiCo. Kerry emphasized that working with the private sector will be necessary if we are to raise the trillions of dollars/year needed. While highly controversial now, ESG financing still remains a valuable tool if it can incorporate far more clarity, transparency, and long-term monitoring of its investment products and projects. Geographers, with our geospatial and GIS tools and knowledge are well positioned to inform and contribute to Climate Change Finance.


NOTE: Douglas Richardson will give the closing plenary talk on this topic in the AAG Symposium on Geospatial Approaches to Pressing Grand Challenges, at 4:30PM on 3/24/2023, in the Windows Room of the Denver Sheraton Hotel.