Infrastructure development has historically harmed the environment, but as climate change becomes a pressing issue, experts stress the need for sustainable practices.
Prof. Dr. Reto Knutti, a climatologist and professor at ETH Zurich, argues that transitioning to sustainable infrastructure is not only necessary for the environment but also presents economic opportunities. Investing in sustainable projects can help mitigate climate change and promote economic growth. The costs of proactive measures are lower than the potential economic consequences of unchecked climate change. However, the challenge lies in the fact that the benefits of these investments are often seen in different sectors, making decision-making complex.
Achieving net-zero emissions by 2050 is technically feasible in Switzerland and Western Europe, but social and political obstacles must be overcome. Public acceptance and political will are crucial for implementing the necessary changes. Innovation in climate technologies shows promise, but requires financial support and promotion. Collaboration between the public and private sectors is essential for successful initiatives.
Financial institutions play a critical role in facilitating the transition to sustainable infrastructure by prioritizing investments in green technologies and sustainable projects. Integrating environmental, social, and governance criteria into investment strategies is increasingly important. Financial institutions can also influence corporate behavior by incentivizing sustainable practices. Collaboration between climatologists, policymakers, and financial institutions is crucial for addressing climate change. Commitment to innovation, investment, and collaboration is necessary to ensure economic growth aligns with sustainability.