Speaking during UNFCCC COP 17, UN Secretary-General Ban Ki-moon urged countries to agree on a coherent, viable trajectory in scaling up from fast-start financing, which ends in 2012, to the long-term goal of US$100 billion a year by 2020.
He noted the urgent need to implement the recommendations of the High-level Advisory Group on Climate Change Financing.
7 December 2011: UN Secretary-General Ban Ki-moon has called on countries to show leadership and ensure that any remaining differences on the design of the Green Climate Fund are resolved in Durban, so the Fund can be launched. Stressing that the Fund “must not be an empty shell,” he urged industrialized countries to inject sufficient initial capital to allow the Fund to begin its work immediately.
Ban delivered this statement on mobilizing long-term climate finance for developing countries during the 17th session of the Conference of the Parties (COP 17) to the UNFCCC, in Durban, South Africa. Underlining that providing financial and technological support is “the most effective tool in addressing climate change,” he urged countries to agree on “a coherent, viable trajectory in scaling up from fast-start financing,” which ends in 2012, to the long-term goal of US$100 billion a year by 2020.
On fast-start financing, Secretary-General Ban said the US$30 billion pledged should be “delivered promptly and transparently” where they are most needed. On long-term financing, noting that there is still a long way to go towards mobilizing US$100 billion a year by 2020, he urged developed countries to fulfil their commitments. Ban concluded by noting the urgent need to implement the recommendations of the High-level Advisory Group on Climate Change Financing. He added that the scale of resources needed and the type of investments required will make it necessary for governments to work together with the private sector. [UN Secretary-General’s Statement on Climate Change Financing]