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UN, World Bank to boost climate finance

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The United Nations Secretary General, António Guterres and World Bank Group President Jim Yong Kim have unveiled plans to accelerate the flow of finance for climate action, through a new platform dedicated to identifying and facilitating transformational investments in developing countries.

Following meetings with world and business leaders, state and city representatives, and civil society, the two leaders pointed to the urgency for climate action and the need for a massive ramp-up of investment.

“Countries are successfully reducing emissions and building resilience to climate change, but getting to the level of action needed to reach the global goals set in Paris two years ago, which require a huge leap in the flow of financing and investment for implementing the National Determined Contributions,” said Secretary General Guterres.

He added: “The disasters we are currently seeing including storms, floods and drought are also demonstrating just how urgent the need is, especially for the small islands nations.”

 

 

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