The majority of greenhouse gas (“GHG”) emissions today is associated with carbon-intense infrastructure construction and operation, particularly in the energy, public transport, water supply and sanitation sectors. At the same time, it is expected that economies will need to make significant investments over the next 10 - 15 years to build new or to rehabilitate ageing infrastructure to meet the increasing global demand, emerging economies and developing countries accounting for roughly two thirds of global infrastructure investment. Many risks associated with climate change will be felt hardest by lower income countries, as their ability to prevent and respond to the impacts of climate change is limited. Against this background there is an urgent need for the development and finance of climate-smart infrastructure solutions.
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