Transportation accounts for 23 percent of global energy-related greenhouse gas (GHG) emissions. Replacing vehicles powered by internal combustion engines with electric ones (EVs) helps significantly lower GHG emissions and reduce air pollution in urban areas.

Green buildings represent one of the biggest investment opportunities of the next decade. Building space is expected to double by 2060, with most of the growth in residential construction, particularly in middle-income countries.

COP 26 included direct and focused attention to climate finance, with a goal to increase investments from both public and private sectors.

The recent developments in renewable energy generation increase the demand for long-term battery storage. The global need for energy storage is expected to rise by 23 percent by 2030, increasing the market revenue to $16 billion by 2030.

Significant financial resources, from the public and private sector, must be mobilized to meet the 2 ̊ C commitment. One way to source this funding is through green bonds, which are becoming increasingly popular among the global investor community.

The huge untapped potential for climate investments in Europe and Central Asia presents a significant business opportunity for financial institutions. To help the banking sector in ECA speed up the green transformation, IFC has launched the Green Banking Academy (GBAC) – an online knowledge and capacity building platform designed to help financial institutions learn about green banking and build green portfolios.

IFC, with over 20 years of global leadership in green finance, is launching a new knowledge and capacity-building initiative – the Green Banking Academy (GBAC) in Europe and Central Asia, implemented in partnership with the Government of Austria.