As the world faces the urgent need to reduce greenhouse gas emissions and combat climate change, new climate laws are being implemented to jumpstart clean energy financing. These laws aim to accelerate the transition to a low-carbon economy and provide the necessary financial support for clean energy projects.

One of the key aspects of these new climate laws is the creation of green investment funds. These funds are designed to provide financing for clean energy projects, such as solar and wind power, through a combination of public and private investments. For example, according to a study by the International Renewable Energy Agency (IRENA), green investment funds can provide up to $1 trillion of additional financing for clean energy by 2020.

Another aspect of these new climate laws is the implementation of carbon pricing mechanisms. These mechanisms put a price on carbon emissions, creating an economic incentive for companies and individuals to reduce their carbon footprint. According to a study by the World Bank, carbon pricing mechanisms can provide up to $250 billion of additional financing for clean energy by 2020.

In addition, new climate laws also aim to remove barriers to clean energy financing, such as lack of access to credit and insufficient regulatory frameworks. For example, according to a study by the International Energy Agency (IEA), removing barriers to clean energy financing can provide up to $500 billion of additional financing for clean energy by 2020.

In conclusion, new climate laws are jumpstarting clean energy financing by creating green investment funds, implementing carbon pricing mechanisms, and removing barriers to clean energy financing. These laws aim to accelerate the transition to a low-carbon economy and provide the necessary financial support for clean energy projects. As a result, it is expected that clean energy financing will reach trillions of dollars by 2020, providing a significant boost to the clean energy sector.