Where are the gaps in climate finance?

Climate change cannot be addressed unless developed and developing countries alike invest heavily in low-carbon technologies and climate-resilient practices. Access to finance has therefore become central to climate change policy. In this Viewpoint we review likely climate investment needs and ask where the main financing gaps might be. We argue that besides the usual analysis of mitigation and adaptation needs, it is important to also gauge the ability of investors to mobilize the required funds. Some investors, whether public and private, will find it harder than others to raise capital, and so a rough