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Investors look for Copenhagen climate agreement to set realistic targets
The private sector will shoulder much of the responsibility for implementing measures agreed at the UN climate change meeting in Copenhagen. NJ Watson reports
FOUR-FIFTHS of the hundreds of billions of dollars needed to mitigate climate change will come from capital markets. That is the assessment of Paul Clements-Hunt, head of the UN Environment Programme Finance Initiative. As a result, the private sector has a particular interest in the outcome of the 15th Conference of the Parties to the UN Framework Convention on Climate Change, which takes place in Copenhagen, the Danish capital, between 7 and 18 December. "Any public[-sector] financing at the global level needs to be part of an efficient mechanism that feeds into the market and frees up private[-sector] capital," Clements-Hunt tells Petroleum Economist. An essential step in enabling private-sector capital to flow freely into climate-change mitigation projects is to set long-term caps on Click here to continue reading Investors look for Copenhagen climate agreement to set realistic targets
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