Bold new actions to immediately tackle climate change were announced today by Government, business, finance and civil society leaders attending a historic Climate Summit convened by United Nations Secretary-General Ban Ki-moon, who has long urged workable solutions based on “clear vision anchored in domestic and multinational actions.” UN News Centre reports.
“Today was a great day – a historic day. Never before have so many leaders gathered to commit to action on climate change,” Mr. Ban said, summing up the day-long event,which drew a unique mix of international players who announced their vision and commitment for reaching a universal and meaningful climate agreement in 2015, as well made announcements on actions that will reduce emissions, enhance resistance to climate change and mobilize financing for climate action.
“The Summit delivered,” declared the UN chief, noting that leaders had reaffirmed determination to limit global temperature rise to less than 2 degrees Celsius by cutting emissions. And many, from all regions and all levels of economic development, advocated for a peak in greenhouse gas emissions before 2020, decisively reduced emissions thereafter, and climate neutrality in the second half of this century.
On finance, the Secretary-General said public and private sources showed the way forward for mobilizing the needed resources. Leaders expressed strong support for the Green Climate Fund. And a total of $2.3 billion was pledged towards the Fund’s initial capitalization today, and others committed contributions by November 2014.
“A new coalition of Governments, business, finance, multilateral development banks and civil society leaders announced their commitment to mobilize upwards of $200 billion for financing low-carbon and climate-resilient development,” he said, adding that private banks announced they would issue $20 billion in “Green Bonds” and that they would double the market to $50 billion by 2015, next year.