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UNSG Calls for Private Investment in Climate, Energy

Ban Ki-moon24 April 2013: UN Secretary-General Ban Ki-moon addressed the Bloomberg New Energy Finance Summit, asking for the private sector's help in tackling climate change and advancing sustainable development. Held on the theme “the future of energy,” the 2013 Summit took place on 22-24 April 2013, in New York, US.

Ban said rising global temperatures, more than any other factor, imperil progress on living standards, and also threaten financial stability. He encouraged participants to explore new markets to support the growth of renewable and clean energy, and to invest in climate finance. According to the UN Environment Programme (UNEP), he said, financing a global green economy transformation will require between US$700 billion and 1.8 trillion per year.

On climate change, Ban noted the leaders' meeting he will convene in 2014 to accelerate political momentum towards a universal legally-binding global climate agreement by 2015, and called for a new treaty that limits global temperature rise to 2 degrees Celcius above pre-industrial levels. The event also will aim to advance options for new investments in climate finance.

While developed countries must deliver on their public finance commitments, he said, private investment is essential to meet the growing demand for energy, climate resilience and low-emissions strategies in the developing world. He added that the water, agriculture and transportation sectors also need substantial investment. [Statement of UN Secretary-General] [Website of BNEF 2013]