{"id":41333,"date":"2017-11-13T21:36:11","date_gmt":"2017-11-13T21:36:11","guid":{"rendered":"https:\/\/www.un.org\/sustainabledevelopment\/?p=41333"},"modified":"2018-04-22T11:48:27","modified_gmt":"2018-04-22T15:48:27","slug":"financing-low-carbon-climate-resilient-future-takes-center-stage-un-climate-conference","status":"publish","type":"post","link":"https:\/\/www.un.org\/sustainabledevelopment\/blog\/2017\/11\/financing-low-carbon-climate-resilient-future-takes-center-stage-un-climate-conference\/","title":{"rendered":"Financing for low-carbon, climate-resilient future takes center stage at UN climate conference"},"content":{"rendered":"

The urgent need to raise the finances to meet the funding goals of the\u00a0Paris Agreement<\/a>, especially to support action by developing countries, took center stage Monday at the UN Climate Conference (COP23) in Bonn, Germany.<\/p>\n

The urgent need to raise the finances to meet the funding goals of the Paris Agreement, especially to support action by developing countries, took center stage Monday at the UN Climate Conference (COP23<\/a>) in Bonn, Germany.<\/p>\n

\u201cWe need all financial players \u2013 public, private, domestic, international \u2013 and including markets and regulators, to work together effectively to\u00a0mobilize at least $1.5 trillion<\/a>\u00a0in climate finance that is needed every year,\u201d said Eric Usher, Head of Finance Initiative at the UN Environment Programme (UNEP<\/a>).<\/p>\n

As part of \u2018Finance for Climate Day\u2019 at COP23, high-level representatives from across the sector highlighted their efforts to meet the goals of the Paris Agreement of keeping the average global temperature rise well below 2 degrees Celsius and as close as possible to 1.5 Celsius.<\/p>\n

They stressed that every dollar invested in cutting greenhouse gas emissions and adapting to climate change gets double the bang for the buck because it directly supports the international community\u2019s\u00a02030 Agenda<\/a>\u00a0for Sustainable Development.<\/p>\n

According to the UN Climate Change (UNFCCC<\/a>) Secretariat, finance for climate is flowing at a greater pace than ever, with vibrant and growing markets for renewable energy, electric vehicles, green buildings and climate-smart agriculture seeing aggressive growth, backed by exponential advances in innovative green financial instruments, indices and markets.<\/p>\n

Equally, the finance sector is recognizing to a much greater degree where and how climate change presents risks to its existing investments and the need to adjust their portfolios away from carbon-intensive assets to reduce that risk.<\/p>\n

However, much more is needed to secure finance and investment at the scale required to deliver a fully de-carbonized and climate-resilient global economy by 2050.<\/p>\n

\u201cThe potential for climate friendly investment in areas such as clean energy and climate-smart agriculture is enormous,\u201d said Laura Tuck, Vice-President Sustainable Development at the World Bank. \u201cThe key is to get the funding to flow so that everyone everywhere can benefit from low-carbon and climate resilient investments.\u201d<\/p>\n

Peter Damgaard Jensen, CEO of the Danish Pension provider PKA and Chair of the Institutional Investors Group on Climate Change (IIGCC) said at a press conference that \u201cit is extremely important that there is a significant increase of investor awareness and action with regards to supporting the transition [\u2026] to a low carbon economy.\u201d \u201cStrong investment signals from policy makers across carbon trading, energy, transport and buildings, are essential to unlock the necessary capital,\u201d he added.<\/p>\n

Members of African civil society and members of Parliament spoke today on the urgency of climate finance as a prerequisite to ambitious action in African countries.<\/p>\n

\u201cAfrica is the continent that pollutes the least,\u201d but \u201cit is Africa which suffers the effect of climate change,\u201d said at a press conference Roger Nkodo Dang, President of the Pan-African Parliament, which is the legislative body of the African Union.<\/p>\n

In an interview with\u00a0UN News<\/em>, he added that developed countries have a duty to provide additional support to Africans for their green development. \u201cIf you tell us ‘do not cut the wood,\u2019 we say, \u2018you bring us electricity,\u2019\u201d he said. \u201cIt\u2019s not a favor; it\u2019s a compensation.\u201d<\/p>\n

Via UN News Centre<\/a><\/p>\n<\/div>

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The urgent need to raise the finances to meet the funding goals of the Paris Agreement, especially to support action by developing countries, took center stage Monday at the UN Climate Conference (COP23) in Bonn, Germany.<\/p>\n","protected":false},"author":243,"featured_media":41337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[20,4],"tags":[7369,144,7313],"class_list":["post-41333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-change","category-news","tag-carbon","tag-climate-change","tag-cop-23"],"_links":{"self":[{"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/posts\/41333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/users\/243"}],"replies":[{"embeddable":true,"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/comments?post=41333"}],"version-history":[{"count":0,"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/posts\/41333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/media\/41337"}],"wp:attachment":[{"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/media?parent=41333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/categories?post=41333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.un.org\/sustainabledevelopment\/wp-json\/wp\/v2\/tags?post=41333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}