Climate Finance is an area of public policy that I have been coming into increasing contact with since last November when I represented YOUNGO at a CSO/ NGO meeting with the
AGF Secretariat after the official release of their
report by the Secretary General.
This sparked my interest in a rapidly growing area of Climate Change negotiation and necessary action. Climate Finance appeals to me because it is practical, logical and a tangible way that change can be achieved. After actively being involved with Youth lobbying at UN Commissions on Sustainable Development---this really appealed to me.
Yesterday, at
“Climate Finance: Ethical Considerations for Scale, Sources and Governance” Mr. Martin Lees (
International Affairs Expert, The Climate Change Task Force and Former Secretary-General, Club of Rome (2008-2010)) said that Climate change is a "Fundamental moral problem." I had never considered it from that perspective after all. He asked if the minority of over consumers have the right to kill our planet while the majority are impacted by a small numbers greed. He questioned our current path. Discussing whether it was fair to build massive debts for future generations? Do we have right to ratify current.He stated that "progression of Climate Change is not Global Warming". He reiterated what we all know--strong and rapid action is needed due to sudden non linear change in the environment and that this is a clear political challenge.
However, my favorite speaker was Mr.
Mark Fulton - Global Head of Climate Change Investment Research, Deutsche Bank Climate Change Advisor. His practical, analytical and research driven approach was the most refreshing. While the rest of the speakers seemed to merely talk, he reflected on the tangible actions that could be taken. He cut straight to the main points and asked valid concise questions that he then answered.
"How can the finance sector go into clean energy --trillions of dollars need to be spent. It won't be the public sector! The public private sector partnership is needed to finance the transfer to clean energy. What are the issues? How can the public sector be brought onboard? IFC, UN Agencies.The private sector must be leveraged. Risk mitigation. Enabling environments--government policy environments / governance environments.Enabling environment is required. Technical assistance. Research. Feed-in-Tarifs, TLC.
It was wonderful to listen to someone who actually solved the problems that he highlighted or attempted to present actual solutions that have been tested empirically. Refreshingly, all
work/ information is publically available.
If you want to experience the panel discussion for yourself, you can watch it online. But please be aware that due to a technical glitch, the for the first 3 1/2 minutes of the archived video, the picture is absent although audio is present. Therefore, as the Chair Mr. Janos Pasztor is beginning the meeting, you can just listen and then at 3 1/2 minutes the picture comes in as well, and then both audio and video are present for the remainder of the 2 hour and 45 min recording. Here is a shortened link to the video:
And the full link so you have the original (incase it doesn't work):
Read more about
“Climate Finance: Ethical Considerations for Scale, Sources and Governance” here
http://www.un-ngls.org/IMG/pdf/RU_climate_finance_SA_TG_ZB.pdf
