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12/05/2010

Funding Climate Change panel

International efforts for mitigation and adaptation actions.

As part of the conferences of the exhibition Green Solutions @ COP16, the Funding Climate Change panel included the participation of international actors who expressed their position on the resources needed to finance climate change impacts.

The report delivered to the COP16 on funding issues shows the need to reach an agreement on the price of carbon to achieve the goal of raising 100 trillion dollars by 2020 to serve for an international fund for mitigation and adaptation for climate change.

Connie Hedegaard, European Commissioner for Climate Action, pointed about the need to innovate in obtaining funds from public and private sectors as well as to create a stable and economically attractive environment for investors to enable joint action.

It is necessary to provide interested entrepreneurs with tools to determine where and how to go into this subject so that investment in environmental projects is also profitable.

Ernesto Cordero Arroyo, Secretary of the Treasury and Public Credit of Mexico, participated in the panel setting the priorities which the country has undertaken. He stated that the federal government is committed to move towards being a low-carbon economy without compromising their growth.

He reported that this year 4.5 trillion pesos of public funds were approved for mitigation and adaptation actions distributed in programs to improve public transport, building environmentally sustainable housing, education programs for business, tax breaks for the transition to environment-friendly technologies, primarily to obtain clean energy.

The panel was chaired by Rachel Kyte, Vice President of Business Advice Services of International Financial Corporations (IFC for its acronym in English) and ended with a question and answer session.

Keywords
cop16, cmp6, kyoto protocol, green solutions, climate change, investors, funding climate change, environmentally, sustainable, connie hedegaard, ernesto cordero

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