GCF private sector conference makes business case to lower planet’s climate costs

 

 

Songdo, 10 Oct 2019“Business cannot succeed on a planet that fails.”

 

 

This was how the Green Climate Fund’s Executive Director Yannick Glemarec articulated his call for enhanced business action to tackle the climate crisis during the Fund’s second global gathering focusing on the private sector.

 

 

The three-day Private Investment for Climate Conference wound up yesterday in Incheon, the Republic of Korea, with a clear message for businesses and other financial institutions to embrace the risks and opportunities posed by climate change.

 

 

Participants from over 100 countries gathered to explore how to tap the acumen of the business world and the power of profits to drive new trends in sustainable development. A key focus of the conference was exploring how to break through market barriers which currently mean that only a small fraction of more than USD 210 trillion of private sector assets is funnelled towards climate action.

 

 

“Businesses cannot afford to be passive about climate change,” said Mr Glemarec. “Because ultimately all investment will be impacted by climate risk.” While warning that untrammelled climate change “endangers the security and economic livelihoods of hundreds of billions of people,” the Green Climate Fund (GCF) Executive Director spoke positively about the business chances that will accompany the emergence of a low-carbon, climate-resilient global economy.

 

 

“The imperative to tackle climate action offers attractive investment opportunities in climate solutions including renewable energy, low-carbon cities, energy efficiency, sustainable transport and climate smart agriculture,” he said.

 

 

Former UN Secretary General Ban Ki-Moon echoed Mr Glemarec’s call for greater business investment, especially in financing the fortification of countries and communities to better deal with the climate challenge.

 

 

“The threat of climate change is too big, too grave, too serious, and too urgent to delegate to governments and public institutions alone,” said Mr Ban, who is president of the Global Green Growth Institute – which, like GCF, is also based in the Republic of Korea. “Considering how urgently we are behind already in the struggle against climate change, we should be leveraging all of the available and scalable solutions, resources and technologies without delay.”

 

 

Emphasising the need to step up climate action, Mr Ban said the world is only months away from the start of a pledge by 2020 to jointly mobilise USD 100 billion of climate finance a year to developing countries. He called on governments and businesses to step up their cooperation in removing climate investment barriers – including political uncertainties and technological risks.

 

Read more...

Go back

CBFP News

WWF: Rainforest deforestation more than doubled under cover of coronavirus -DW

Tropical rainforests shrank by 6,500 square kilometers in March — an area seven times the size of Berlin. Criminal groups are taking advantage of the pandemic and the unemployed are getting desperate, the WWF said.

Read more …

Nouabalé-Ndoki National Park Monthly update April 2020

"At a time when many countries are beginning their gradual deconfinement and when there is a glimmer of hope on the horizon of returning to normal life, I wanted to share with you some good news that also fills us with hope for the future of the Nouabalé-Ndoki National Park."

Read more …

Resources and follow-up from the virtual FAO-EcoAgriculture Partners Roundtable

Last April 30th FAO and EcoAgriculture Partners organized a virtual Roundtable on Territorial Perspectives for Development, in which over 170 people participated.

Read more …

ATIBT -CBFP: Private Sector mobilized around the CBFP Facilitator of the Federal Republic of Germany

ATIBT co-facilitated the mobilization of the private sector of the timber sector to participate in the first meeting of the private sector college of Congo Basin Forest Partnership with the new facilitator Dr Christian Ruck and his team German Facilitation.

Read more …

Development and institutionalization of a PAFC certification system for the Congo basin: opening of the second public consultation on Sustainable Forest Management Certification Standard, 23 May 2020 - 22 June 2020

This second public consultation will be open for a period of 30 days from tomorrow Saturday the 23rd of May 2020 and will be closed on Monday the 22nd of June 2020. The public consultation is open to all stakeholders of forest management in the Congo Basin interested in participating to the PAFC Congo Basin certification standards development process.

Read more …

Forest defenders on the COVID-19 frontline stand ready to assist the global EU response – Fern

These efforts go hand in hand with ensuring continued responsible management of natural resources and preventing unsustainably and illegally sourced forest commodities. In the Democratic Republic of Congo, forest-monitoring organisations Observatoire de la Gouvernance Forestière (OGF) and Réseau des observateurs indépendants des ressources naturelles (RENOI) are set to carry out COVID awareness-raising in at-risk forest areas, and will also assess COVID’s impact on forest management and governance commitments under the Central African Forest Initiative (CAFI). Across the Congo Basin, fears that a proper lack of oversight may put forests and forest peoples in danger are looming despite emerging initiatives.

Read more …

22 May 2020 International Day for Biological Diversity

The theme of the 2020 International Day for Biological Diversity is “Our Solutions are in Nature”. It shows that "Biodiversity remains the answer to a number of sustainable development challenges that we all face. From nature-based solutions to climate, to food and water security, and sustainable livelihoods, biodiversity remains the basis for a sustainable future."

Read more …

CBFP News Archive

2022

There are no news items for this period.