Cleaning Up: Leadership in an Age of Climate Change
The Bridgetown Initiator - Ep145: Prof Avinash Persaud
Nov 29, 2023
Prof Avinash Persaud, special envoy to the Prime Minister of Barbados, discusses topics such as the Bridgetown Initiative, reducing foreign exchange risk, addressing climate change in vulnerable countries, and the challenges of coalition building. He shares insights from his career in finance, academia, and public policy, highlighting the importance of sustainable renewable energy infrastructure.
01:03:59
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Quick takeaways
- The high cost of capital in developing countries limits private sector investment in climate change mitigation.
- Development banks can provide lower-rate financing for adaptation and resilience projects in developing countries, reducing the burden on taxpayers.
Deep dives
Private sector involvement in mitigation is challenging due to cost of capital
Bringing private sector investment in the global south for climate change mitigation is difficult due to the high cost of capital. Investors are hesitant to invest in developing countries due to the increased risks and volatility associated with these markets. The cost of capital for investing in renewable energy projects in developing countries can be as high as 14%, compared to around 4% in developed countries. This disparity in the cost of capital limits the flow of private investment in climate change mitigation in the global south.
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