Financial sector to help mobilize $200 billion to fight climate change in developing countries

Listen /

Pollution from a brick factory in Afghanistan. UN Photo/Fardin Waezi

Two hundred billion dollars has been pledged by governments, investors and financial institutions for low-carbon programmes in developing countries.

The announcement was made at the Climate Summit at UN headquarters in New York which is being attended by over 120 heads of state as well as the private sector and civil society.

The UN's goal is to reach $100 billion of funding annually by 2020.

The pledges include $30 billion in financing instruments from commercial banks.

The insurance industry has committed to double its green investments to $84 billion by the end of next year.

The UN Secretary-General, Ban Ki-moon said the Summit has created a "platform for new coalitions."

He added that leaders from both public and private sectors from across the globe were "eager to confront the challenges of climate change together."

Daniel Dickinson, United Nations.

Duration: 58″

UN Radio Daily News Programme
UN Radio Daily News Programme
Updated at 1800 GMT, Monday to Friday
Loading the player ...

CONNECT

       

 

December 2017
M T W T F S S
« Nov    
 123
45678910
11121314151617
18192021222324
25262728293031