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Cancuún México 29 de noviembre - 10 de diciembre 
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A global climate finance strategy

United Kingdom

As concentrations of greenhouse gases in the atmosphere continue to rise, the need to act becomes ever more pressing.

Sir, In Copenhagen, political leaders committed themselves urgently to combat climate change. As concentrations of greenhouse gases in the atmosphere continue to rise, the need to act becomes ever more pressing.

Climate finance is central to that action. Last week, heads of Government, ministers with finance and climate change responsibilities and other eminent global figures set out in the UN High Level Advisory Group’s report on climate financing how the world could meet its commitment to mobilise $100 billion a year by 2020. This is necessary to help developing countries to put their economies on a vibrant, low-carbon footing, as well as deal with the potentially devastating effects of climate change.

The report provides a thorough and objective analysis of potential sources of finance. Each source is assessed against a number of demanding criteria, such as its reliability and scope for generating revenues without impacting global growth. The report shows that reaching the $100 billion will be challenging but feasible. It will require tapping a mix of sources, both public and private, national and international, innovative and traditional. It will also require serious commitments from developed countries and a strong carbon price of $20-$25 to deliver. And the report sets out the significant role that private sector investment and carbon markets can play, hand-in-hand with public finance.

Above all the report is a catalyst for action. Developed and developing nations can and must work together, recognising our common but differentiated responsibilities, according to respective capabilities. The task isn’t easy and the impediments are many, but they can be overcome through collective action.

We believe that now is the time for the international community to work together urgently, including through the G20, to build momentum at the next climate change meeting in Cancun towards agreeing concrete proposals by the meeting in South Africa next year. There is no time to lose.

El contenido de las noticias que se presentan en esta sección es responsabilidad directa de las agencias emisoras de noticias y no necesariamente reflejan la posición del Gobierno de México en este u otros temas relacionados.


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