Green ‘Transition Finance’ Takes Center Stage in 2024, But What Does It Mean? – Bloomberg

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It was part of the agreement at COP28 in which 200 nations agreed to move away from fossil fuels. But what it means is another matter.
Photographer: Saul Loeb/AFP
“Transition finance” is shaping up to be one of the new year’s most important subjects for anyone professing to care about the climate crisis.
There’s a “whole world of transition finance being created as we speak,” said Mark Carney, the United Nations special envoy on climate action and finance, during a panel discussion at last month’s COP28 in Dubai.

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