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Bloomberg Talks

Philipp Hildebrand Talks COP28 Climate Initiatives

Dec 4, 2023
Philipp Hildebrand, Vice Chair at Blackrock, discusses climate initiatives at COP28, challenges in carbon markets, the importance of capital, mobilizing private capital, and the difficulties faced by the Fed in making policy decisions.
09:34

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Quick takeaways

  • One positive outcome of COP28 is the mobilization of private capital for climate projects in the emerging world.
  • Establishing comprehensive carbon markets is crucial along with emission reduction and new technologies to address climate change.

Deep dives

Private capital formation for climate transition

One positive outcome of the climate initiatives discussed at COP 28 is the emergence of private capital formation for investing in the climate transition in the emerging world. The focus is on mobilizing private capital to fund the necessary projects in regions that are in greatest need. While challenges remain in finding the right projects at speed, there is hope that progress can be made through regional cooperation and reforms in multilateral development banks.

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