Business funding on climate action needs to ‘rise exponentially’: RBC report ...Middle East

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Business funding on climate action needs to ‘rise exponentially’: RBC report
TORONTO – Business funding for climate action needs to “rise exponentially” for Canada to be on track for net zero emissions by 2050, said a report out Tuesday from RBC. The RBC Climate Action Institute report said that while money coming from public and private sources has grown by almost 50 per cent since 2021 to $22 billion, funding needs to reach $60 billion a year for the rest of the decade to hit emission reduction targets. “Public markets, private equity and venture capital will need to step up and channel more of their capital into green investments,” said the report, noting the segments made up only eight per cent of the capital flows into climate efforts since 2021

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