Climate finance essential for addressing climate change: BanListen /
Progress on climate finance is crucial for fuelling confidence in the negotiations on climate change.
That's what United Nations Secretary-General Ban Ki-moon said on Wednesday in remarks at a Ministerial meeting on Climate Finance taking place in Warsaw, Poland.
Secretary-General Ban warned that "climate change is the greatest single threat to peace, prosperity and sustainable development" adding that it is critical to scale up action on the ground.
"What we need should be clear to us all: First, stable investment policies and conducive regulatory frameworks. Second, more public finance. Third, more private finance. And fourth, better mechanisms for channelling investments to where they are most needed. This is what we need at this time. Climate change is a threat to economies large and small, and to the stability of the global financial system." (29")
The Secretary-General warned that "the longer we delay, the greater the costs – to communities, to businesses, to economies and to the planet."
He also reminded participants that in two years time, parties to the Climate Convention have agreed to complete an ambitious global climate agreement.
Donn Bobb, United Nations.