"In battling climate change, waiting is not an option"

The authors propose a new Finance Facility against Climate Change (F2C2) formed by G20 countries, building on the successful example of the International Finance Facility for Immunisation (IFFIm) that raised funds through bond issuance to finance immunisation programmes in poor countries.

This could allow the necessary frontloading of climate spending in poor countries, while minimising the short-term impact on donor countries’ budgets.

Can this support the developing world frontload emission reductions despite tight budgets and looming debt crises?