World Economic Forum and UN Climate Change Secretariat to launch new finance models to address climate changeListen /
The World Economic Forum and the United Nations Climate Change Secretariat have announced the launch of an initiative that showcases successful public-private financing mechanisms and approaches to support climate change adaptation and mitigation activities.
The initiative, “Momentum for Change: Innovative Financing for Climate-friendly Investment”, will inform governments, investors, business, public finance agencies and the media about practical ways and means to enable a global shift to environmentally and economically sustainable growth.
UNFCCC Executive Secretary Christiana Figueres says “It is clear that the private sector needs to deliver significant investments to put the world on a path to a climate-secure future”.
But she says “given the scale of investment needed, the newness of technology solutions and the perception of risk that exists, the current level of investment is far too low", adding that "the public sector can help to unlock private finance and ensure supportive policy frameworks for climate-friendly investment”.
The initiative will be formally launched next week during the United Nations Climate Change Conference, now taking place in Doha, Qatar.
Donn Bobb, United Nations.