New Initiative launched to recognize climate-friendly financingListen /
A new initiative – the “Momentum for Change: Innovative Financing for Climate-friendly Investment” was launched in Doha on Friday by the UN Climate Change Secretariat, in partnership with the World Economic Forum.
The initiative aims to recognize and highlight creative financing models that enable adaptation and mitigation activities in developing countries.
The initiative will showcase “lighthouse activities” that use innovative financing to make a difference in meeting the climate change challenge on the ground. These activities – notably public-private partnerships in developing countries – can serve as models for governments, businesses and industry looking for climate-friendly investment vehicles.
Executive Secretary of the UN Framework Convention on Climate Change –(UNFCCC) Christiana Figueres says they are "looking to highlight public-private partnerships that are underway and that are successfully putting together innovative financing solutions to address climate change", adding that "there is much creative thinking in many sectors that people can learn from and which opens the door to greater political and business ambition to tackle climate change".
The initiative will also benefit from the World Economic Forum’s Green Growth Action Alliance, which includes more than 50 of the world’s largest energy companies, international financial institutions and development finance banks working to deliver greater investments into clean energy, transportation, agriculture and other green investments.
Donn Bobb, United Nations.