Climate finance and diplomacy was the focus of this episode of the CERAWeek Podcast hosted by Atul Arya, Chief Energy Strategist, S&P Global, with guest speakers Martina Chung, President, S&P Global Ratings and Executive Lead, S&P Global Sustainable1, and Peter Gardett, Executive Director, Financial and Capital Markets, S&P Global Commodity Insights.

The commitments made at COP28—by corporations, banks and private investors were arguably as important and as impactful as what governments were doing—to provide billions of dollars in capital for the long-term transition away from fossil fuels.

The energy and capital transition has also proved to be a profitable place for long-term private equity and private debt funds to play. The speakers also discussed the need to increase the percentage of climate mitigation and adaptation investment flowing into low- to middle-income countries.