Financier: Private money to invest in ‘green economy’ waiting to be unlocked

Credit Suisse Managing Director and Vice Chairman of Global Investment Banking, Mark Burrows, delivers a keynote speech during the Forests Asia Summit 2014 at Shangri-La Hotel in Jakarta, Indonesia. Photo for Center for International Forestry Research (CIFOR).

Credit Suisse Managing Director and Vice Chairman of Global Investment Banking, Mark Burrows, delivers a keynote speech during the Forests Asia Summit 2014 at Shangri-La Hotel in Jakarta, Indonesia. Photo for Center for International Forestry Research (CIFOR).

JAKARTA, Indonesia — More than enough private capital is available for green growth initiatives, including forest projects, but a lack of political will has blocked investors from unleashing much-needed finances, Credit Suisse Managing Director and Vice Chairman Mark Burrows said at an international conference Tuesday.

Lack of financing has been cited as a major setback in the Reducing Emissions From Deforestation and Forest Degradation (REDD+) scheme, aimed at conserving forests and preventing vast amounts of carbon from entering the atmosphere.

But according to Burrows, there is not a lack of finance for forests and, more broadly, green growth. What’s lacking is the action from governments, standards and certainty needed to green-light investment.

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Editor’s Note: Videos of all presentations and speeches at the Summit will be posted here. A version of this story was previously published at Forests Climate Change.

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