United Nations Radio

Climate change is not just an environmental issue, but also a sustainable development issue.

That's what General Assembly President Srgjan Kerim said Monday as the General Assembly met to highlight the role of global private investments in tackling climate change.

Foreign Minister Kerim says financial institutions shape economies in many and varied ways, noting that investment decisions taken today will inevitably affect the world's emission profile in the future:

"In contrast to key industrial sectors that are directly involved with climate change negotiations such as energy or transportation business, private finance is less visible. However, private finance plays a key role in almost every major investment decision. It will continue to play a major role in shaping the transition to a low-carbon economy. This is why fostering a closer dialogue between private investors and public decision-makers is important."

The General Assembly president says total investment in new physical assets is projected to triple between 2000 and 2030.

He says this will provide a window of opportunity today to direct finance and investment flows into new facilities that are more climate friendly or climate 'proof'.

This is Donn Bobb reporting for United Nations Radio.

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