Meeting Global Challenges Requires Financial Innovation
The sums required to meet global challenges like mitigating climate change and strengthening financial-market stability far exceed available public funding. Attracting voluntary private investment, however, will require the development of a menu of innovative financial instruments.
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WASHINGTON, DC – No one doubts that many of the world’s biggest challenges – such as mitigating climate change, strengthening financial-market stability, and boosting economic growth in developing and emerging economies – are deeply intertwined. Multilateral cooperation will thus lead to better outcomes than uncoordinated national responses. What is less obvious is which of the many proposed approaches to addressing global challenges should be pursued.