New Green Drivers of Growth
At a time of insufficient global demand and fiscal constraints in the developed countries, there is an urgent need for new drivers of growth. The initiatives described in a new UN report offer a major opportunity to reorient the global economy towards resource-saving, low-carbon growth by using limited public resources to stimulate large-scale private investment.
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FRANKFURT – United Nations Secretary-General Ban Ki-Moon has just released the final report of his High-Level Advisory Group on Climate Change Financing (AGF). As the two private-sector members of the AGF, we are proud of our work. The report lays out the available options for mobilizing $100 billion annually for climate-change mitigation and adaptation in developing countries, and establishes the conditions that would make it possible to achieve this goal by 2020.