The infrastructure sector accounting for 79% of global greenhouse gas emissions, largely from energy and transport, has a pivotal role to play in the fight against climate change. To effectively mitigate the impact of climate change, reducing the carbon footprint of infrastructure is critical.
We recognize the urgency of our climate crisis, now described by some as an era as “global boiling.” We emphasize the importance of transparency, participation and accountability in climate finance.
By ensuring climate investments reach vulnerable populations, reduce emissions, and enhance resilience, we aim to make climate finance impactful and equitable. Through our work, we champion openness in infrastructure to drive sustainable and inclusive solutions.
Here are some of the highlights in our work tackling climate finance and climate change in 2024
Our prototype and Guidance Note enhances transparency in climate finance
We launched a new Climate Finance Portal Prototype designed to demonstrate transparency, accountability, and participation in climate finance.
The prototype allows for the real-time publication of key data related to climate finance across all stages of an infrastructure project’s lifecycle.
It provides detailed insights into project financing conditions, climate mitigation and adaptation outcomes, and public consultations.
Additionally, it offers insights into the entities responsible for managing the funds, including accredited institutions and co-financing ratios.
Our new climate finance dataset with GIZ for mitigation and adaptation
In collaboration with GIZ, we developed a new climate finance dataset to enhance transparency in climate investment for infrastructure.
The module includes 33 data points to be published proactively by procuring entities implementing projects receiving this type of funding.
The climate finance module can be adopted alongside sustainability modules developed by CoST and key partners such as the Open Contracting Partnership, the World Bank, and Open Data Services.
Climate finance: Integrity for a Green World
With a panel of experts from World Bank, University of Cambridge and GIZ, we discussed new tools and approaches that demonstrate the urgent need to improve the transparency, participation, and accountability of climate finance. This included our new dataset, guidance note and protoype.
The webinar also made links between this work, and the COP29 theme “In solidarity for a Green World.”
Earth Day 2024: The importance of building integrity into water infrastructure
Access to clean water is a significant challenge worldwide. This is particularly so in the Global South, where the vast majority of the world’s population lives. As the climate emergency intensifies, the situation is projected to worsen, heightening the threats to water security, human well-being, and ecosystem health.
Infrastructure plays a critical role in both mitigating and adapting to water scarcity. Adequate water infrastructure is essential for building adaptive capacity and enhancing resilience against climate and water scarcity.
During the 2025 the infrastructure sector will face relevant challenges in climate finance, such as integrating climate risks into financial models, attracting private investment, and ensuring sustainable and resilient projects. Overcoming these challenges requires financial innovation, ambitious policies, multisectoral collaboration, and transparent mechanisms to build trust, where we, as CoST, have been gaining some experience in order to support to face these challenges around the world.