UN Secretary-General Ban Ki-moon said that for the Paris Climate Conference to succeed, a finance package that covers key concerns must be in place.

“I welcome leaders from the public and corporate sectors. All of you are essential to success. We need your collaboration and bold leadership to rise to the climate challenge. This is an enormous opportunity to chart a new path.”

“But for Paris to succeed, it needs a finance package that covers the political, economic and policy dimensions.”

The Secretary-General, in remarks at a session on climate change during the World Bank-IMF Spring Meetings, called for a realistic trajectory for mobilizing the $100 billion per year by 2020 that was pledged by developed countries in 2009– with resources above and beyond official development assistance.

“The least developed and small island developing countries are especially vulnerable – and need significantly larger allocations from public funding, official development assistance, the Green Climate Fund and the Least Developed Country Fund. We also have to help the Least Developed Countries and Small Island Developing States tap into international markets and attract investors.”

The private sector also had a vital role to play, he said, noting that companies announced $200 billion in commitments at the Climate Summit in September. “Now they have to turn commitments into actions that can blaze a trail for the trillions in low-carbon infrastructure that can help meet the world’s needs for cities, energy and agriculture.”

The Secretary-General said he was pleased to see in the Financial Times this morning that many business leaders are publicly stepping up to meet the climate challenge. “They know that taking bold climate action makes good business sense, and that an ambitious global agreement is vital. I urge CEOs around the world to lead by example and make good on their commitments.”