Finance

UN Global Compact and UNEP Convene First Meeting of ‘Caring for Climate' Initiative [viewed]

Nukunonu Atoll seaside, one of the regions of the world vulnerable to climate change 21 October 2008: Representatives of over 150 corporations,

civil society organizations, governments and UN agencies gathered in Geneva,

Switzerland, on 21 October 2008, for the first meeting of signatories to

‘Caring for Climate,' a voluntary global action platform jointly launched in

2007 by the UN Global Compact, the UN Environment Programme (UNEP) and the

World Business Council for Sustainable Development (WBCSD).

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ECLAC Convenes Climate Change Seminar [viewed]

Concern Grows Over Impact of Climate Change on Economies in the Region 17 October 2008: The Economic Commission for Latin America

and the Caribbean (ECLAC) convened a seminar on "Climate change in Latin

America: Impact, Possibilities for Mitigation and Financing," from 15-16

October 2008, in Santiago, Chile. During the meeting, participants discussed

the possible imposition of trade barriers on products from the region due to

carbon emissions in their production and transportation and stressed the

urgency to mitigate the effects of climate change.

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G-8 Meeting to Address Financial Crisis [viewed]

18 October 2008: During a meeting on the sidelines of the

Francophonie Summit, which convened in Quebec City, Canada, from 17-19 October

2008, UN Secretary-General Ban Ki-moon and French President Nicolas Sarkozy

agreed on the need to hold an emergency G-8 summit to address the financial

crisis and ensure that its negative impact on the world's economies does not

undermine the major UN efforts to achieve the Millennium Development Goals, to

fight against the effects of climate change and to address the food crisis.

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UN Secretary General: EU's Climate Actions Could Spur “Green” Growth [viewed]

17 October 2008: UN Secretary-General Ban Ki-moon stated

that EU proposals on tackling climate change could spur “green” growth and

generate millions of new jobs.

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Countries Selected for World Bank's Climate Investment Funds' Governing Bodies [viewed]

17 October 2008: Two sets of seven donor countries and seven potential recipient countries have been selected to serve on the Clean Technology Fund (CTF) Trust Fund Committee and the Strategic Climate Fund (SCF) Trust Fund Committee, respectively, to oversee the decisions concerning investments and implementation of the recently created World Bank Climate Investment Funds (CIF).

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World Food Day: UN Officials Address Linkages between Hunger, Surging Food and Fuel Prices and Climate Change [viewed]

World Food Day, 16 October 2008 16 October 2008: On World Food Day (WFD), the heads of UN agencies called attention to the ongoing crisis of hunger and its interrelations with climate change and rising fuel prices.

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IEA Releases Report on the Effects of the EU ETS on the Aluminum Sector [viewed]

Climate policy and carbon leakage: Impacts of the European Emissions Trading Scheme on Aluminium 14 October 2008: The International Energy Agency (IEA) has released a new Information Paper exploring the effects of the EU emissions trading scheme (EU ETS) on the aluminum sector.

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UN Deputy Secretary-General Calls for Giving “Dedicated Attention” to Climate Change [viewed]

Deputy Secretary-General Asha-Rose Migiro 14 October 2008: UN Deputy Secretary-General Asha-Rose

Migiro presented the Secretary-General's proposal for strengthening the

development pillar of the UN Secretariat to the Fifth Committee of the General

Assembly, which deals with administrative and budgetary matters, Underlining

the importance of concerted international action in addressing development

challenges, she stressed the intensifying effects of climate change, the food

and energy crises, and the global financial turmoil.

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Informal Ministerial Consultations Held in Preparation for COP14 [viewed]

Cop09 14 October 2008: More than 40 environment ministers and

high-level representatives held talks in Warsaw, Poland, from 13-14 October

2008, to prepare for the 14th Conference of the Parties (COP14) to the UNFCCC,

scheduled to take place in December 2008 in Poznań, Poland. During the informal

consultations, which were chaired by Maciej Nowicki, Minister of Environment of

Poland and future COP14 President, participants underscored that Poznań will be

a milestone for the new global climate agreement and agreed that the current

financial crisis should not hinder efforts to tackle climate change.

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UN Secretary-General Calls for Urgent Multilateral Action [viewed]

13 October 2008: UN Secretary-General Ban Ki-moon has called

for “deep and systemic” reforms based on inclusive multilateralism for a global

financial system that can better meet the challenges of the 21st century.

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