I am glad we could meet here in the margins of the AU Summit.

The inter-related climate and post-2015 sustainable development processes present an unprecedented opportunity to limit global temperature rise, eradicate extreme poverty and sustain economic growth.

But, to meet the full scale of the climate challenge and seize the opportunities, we need an international framework that will support accelerated action by all nations and all sectors.

That is why I am hosting a Climate Summit on 23 September in New York.

We are all aware of the latest findings of the Intergovernmental Panel on Climate Change.

More extreme climatic events highlight the need for ambitious climate change adaptation and mitigation strategies and actions.

I am encouraged that Africa’s regional strategies give priority to agriculture, water and energy. These are the most vulnerable sectors and the most crucial to growth.

I have three expectations for the Climate Summit.

First, government, business, finance and civil society leaders should signal clear support for an ambitious global agreement in 2015.

We need a vision that aligns politics and economics and is consistent with limiting global temperature rise to under 2 degree Celsius.

National actions should provide evidence of commitment to this trajectory.

Second, governments and key financial actors need to commit to scaling up public and private finance.

We must start mobilizing the additional investments needed to get the world on a 2degree Celsius pathway.

We need a hundreds of billion dollars a year between now and 2050.

That means operationalizing and capitalising the Green Climate Fund as a matter of urgency, and mobilizing the $100 billion already pledged.

It means introducing policy and regulatory measures that will promote low-carbon and climate resilient economic development in all regions from 2015.

It means creating a platform to discuss trading and price issues related to all carbon markets.

And it means establishing supportive national frameworks for green bond markets and working with multilateral, international and national development banks to triple the green bond market by the end of 2015.

It also means scaling-up mechanisms to insure against extreme weather, such as the African Risk Capacity, which should be showcased at the Summit.

My third expectation for the Summit is that it will help build multilateral and multi-stakeholder coalitions to support initiatives in high-impact areas that will reduce emissions and enhance resilience.

I thank all who have already accepted my invitation.

I hope you will all attend and encourage your leaders from the private sector to come too.

I also expect a significant role from Africa as a regional bloc.

Africa has the opportunity to create new markets, and more and better jobs by building a low-carbon, climate resilient economy that will enhance water, food and energy security.

I therefore welcome Africa’s coordinated approach to the 2015 climate agreement, through this distinguished Committee.

Africa can raise the ambition level of all countries in the climate negotiations, through leading by example and setting the bar high.

That is why I urge you to deliver a strong common statement at the Climate Summit.

I welcome the initiative of the Climate for Development in Africa partnership to hold a special event on 22 September in New York for African leaders to consolidate their joint message.

My office and my Special Envoy, President Kufuor, will work with you closely to support this effort.

I encourage you to demonstrate leadership commensurate with Africa’s emergence as an economic powerhouse by committing to a low-carbon future, building resilience and investing in adaptation.

Demonstrate your commitment at the Summit through significant actions in Africa’s priority areas of energy, agriculture and water.

And join multilateral, multi-stakeholder initiatives such as the Clean Energy Corridor and the Climate Smart Agriculture Alliance.
I thank you for your attention.

I would now like to turn to my Special Envoy H. E. President Kufuor to lay-out the organisation of the day and we look forward to hearing our views thereafter.

Thank you.