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UN Urges Business Leaders to Double Investment in Wind and Solar Energy to 400bn 27th January

Ban Ki-moon

Ban-ki-moon, UN Secretary General, told global business leaders they had to take decisive action to move away from the fossil fuels in order to avoid jeopardising Paris agreement

Under the agreement, 196 governments agreed on the 2C goal, an aspirational goal of 1.5C, and to build a net-zero carbon economy in the second half of the century. Rich countries committed to providing climate finance, and all countries committed to revisiting and strengthening their national climate goals, starting as early as 2018.

Today was the third such meeting, with approximately 500 investors, arranged by the Ceres Sustainable Business Network as Ban and other UN officials embark on an itinerary designed to rally support from business leaders to meet the Paris climate agreement. Other such meetings have recently taken place in Abu Dhabi and Davos.

 “I call on the investor community to build on the strong momentum from Paris and seize the opportunities for clean energy growth,” Ban told a UN investors’ meeting from a prepared statement. “I challenge investors to double – at a minimum – their clean energy investments by 2020.”

As Community Windpower recently reported, global clean energy investment brought a record $329bn last year, according to Bloomberg New Energy Finance.

However, Ban told the New York meeting that even this record investment sum was not enough to enable countries to implement the infrastructure required to meet the Paris agreement of keeping global warming below 2C. He called on investors and fund managers to move from “aspiration to action”.

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