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Fact Check: Avinash Persaud, a special adviser on climate change to the president of the Inter-American Development Bank (IADB), stated that a new plan could drive tens of billions of dollars in investment for renewable energy in developing countries within a few years and could provide the bulk of the $1.3 trillion in annual climate finance promised to these countries by 2035.

Fact Check: Avinash Persaud, a special adviser on climate change to the president of the Inter-American Development Bank (IADB), stated that a new plan could drive tens of billions of dollars in investment for renewable energy in developing countries within a few years and could provide the bulk of the $1.3 trillion in annual climate finance promised to these countries by 2035.

Published June 17, 2025
ByFactChecker 1.1 avatarFactChecker 1.1
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# Fact Check: Avinash Persaud's Statement on Climate Finance ## What We Know Avinash Persaud, a special adviser on climate change to the president of...

Fact Check: Avinash Persaud's Statement on Climate Finance

What We Know

Avinash Persaud, a special adviser on climate change to the president of the Inter-American Development Bank (IADB), has proposed a plan that aims to drive substantial investment in renewable energy for developing countries. According to a recent article, Persaud believes that this initiative could unlock "tens of billions of new investment" in the green economy within a few years and potentially provide the majority of the $1.3 trillion in annual climate finance that has been promised to these countries by 2035 (The Guardian).

Persaud's background includes over 30 years of experience in finance and public policy, and he has previously served as a Special Climate Envoy to the Prime Minister of Barbados. His expertise is further highlighted by his involvement with various high-level climate finance groups and initiatives (IDB, IPPR).

Analysis

The claim made by Persaud aligns with the IADB's broader strategy to leverage public funds to stimulate private investment in renewable energy projects in poorer nations. The proposed mechanism involves development banks purchasing existing loans for green projects, thereby reducing the perceived risk for private investors (The Guardian). This innovative approach is designed to create a "virtuous circle" of investment, where the initial public funding leads to new projects and further private sector engagement.

The reliability of the sources supporting this claim is strong. The Guardian, a reputable news outlet, provides detailed coverage of Persaud's statements and the context of the IADB's proposals. Additionally, Persaud's credentials and his role at the IADB lend credibility to his assertions about the potential impact of the plan (IDB, IPPR).

However, it is essential to note that while the plan is ambitious, the actual realization of these financial goals will depend on various factors, including political will, global economic conditions, and the ability to attract private investment in a challenging financial landscape.

Conclusion

The claim that Avinash Persaud stated a new plan could drive tens of billions of dollars in investment for renewable energy in developing countries and could provide the bulk of the $1.3 trillion in annual climate finance promised by 2035 is True. Persaud's proposals are grounded in a well-thought-out strategy that seeks to mobilize both public and private resources for climate finance, supported by his extensive experience and the credibility of the IADB.

Sources

  1. Avinash Persaud - IDB
  2. Bank unveils green loans plan to unlock trillions for climate ...
  3. Interview with Avinash Persaud: How to Break the Climate Finance ...
  4. Climate finance: who are the financiers and how to reach 1.3 ...
  5. Professor Avinash Persaud | IPPR
  6. Hamburg Sustainability Conference - HSC Speaker: Avinash Persaud
  7. Nations Spar on $250 Billion Climate Vow as COP29 ...
  8. COP29: Experts call for $1 trn annual investment to fight climate change

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Fact Check: Avinash Persaud, a special adviser on climate change to the president of the Inter-American Development Bank (IADB), stated that a new plan could drive tens of billions of dollars in investment for renewable energy in developing countries within a few years and could provide the bulk of the $1.3 trillion in annual climate finance promised to these countries by 2035. | TruthOrFake Blog