Michael Metcalfe: A provocative way to finance the fight against climate change

A provocative way to finance the fight against climate change

Will we do whatever it takes to fight climate change? Back in 2008, following the global financial crisis, governments across the world adopted a "whatever it takes" commitment to monetary recovery, issuing $250 billion worth of international currency to stem the collapse of the economy. In this delightfully wonky talk, financial expert Michael Metcalfe suggests we can use that very same unconventional monetary tool to fund a global commitment to a green future.

The financial rescue tools used in 2008, like creating $250 billion in international currency, could be repurposed to fight climate change. Unused funds from wealthy nations sit idle, while crucial climate promises, such as $100 billion for developing countries, remain unmet. By channeling these dormant reserves into climate projects, the world could spark urgent action, just as it did for the banks. A bold, collective commitment could make a real difference for future generations.