UN seeks financing for climate-friendly investment examples

UN and World Economic Forum seek shining examples of financing for climate-friendly investment

Bonn, Geneva 12 April 2013 – Beginning today through the end of May, people and institutions can submit examples of financial innovations for activities that curb greenhouse gas emissions or help the poor and vulnerable adapt to the inevitable effects of climate change.

The secretariat of the UN Framework Convention on Climate Change (UNFCCC), in partnership with the World Economic Forum, has opened a call for applications for “Momentum for Change: Financing for Climate-friendly Investment.“

The entries must relate to activities that are currently being implemented or have already been completed, and are scalable and replicable.

The initiative is designed to inform governments, investors, businesses, public finance agencies and the media about practical ways and means to enable a global shift towards environmentally and economically sustainable growth with the help of finance.

Pointing towards the fact that climate change can be seen as both a risk and an opportunity for business, UNFCCC Executive Secretary Christiana Figueres said:

“Clean energy investment is on the rise and the need to adapt to climate change is even more urgent. Many businesses, including some of the largest institutional investors, recognise the risks of climate change as well as the opportunities of low-carbon investments. I look forward to showcasing many examples of innovative climate finance at COP 19 in Warsaw,” Ms. Figueres said.

The initiative takes place in partnership with the World Economic Forum's Green Growth Action Alliance, which gathers over 60 of the world's largest energy companies, international financial institutions and development finance banks working to deliver greater investments in clean energy, transportation, agriculture and other green investments.

"We cannot address climate change without unlocking private finance,” said Thomas Kerr, Director of Climate Change Initiatives at the World Economic Forum. “There are many successful cases where governments have strategically targeted their public funds to mobilize significant amounts of private investment for green infrastructure. The World Economic Forum is pleased to partner with the UNFCCC to showcase and scale up these proven solutions.”

The most inspiring, innovative, successful and motivational activities selected as Momentum for Change Lighthouse Activities will be presented during the United Nations Climate Change Conference in Warsaw, Poland (11 to 22 November 2013).

Entrants can apply from 12 April to 31 May 2013. All entries that correspond to the criteria will be added to a register of inspiring activities on the Momentum for Change website.

About Momentum for Change
Momentum for Change aims to create a public platform that raises awareness about concrete mitigation and adaptation actions being implemented by a wide range of stakeholders at the regional, national or local levels. The initiative seeks to demonstrate the multiple benefits of addressing climate change and to transform misperceptions surrounding taking action on climate change.

About the UNFCCC
With 195 Parties, the United Nations Framework Convention on Climate Change (UNFCCC) has near universal membership and is the parent treaty of the 1997 Kyoto Protocol. The Kyoto Protocol has been ratified by 192 of the UNFCCC Parties. For the first commitment period of the Kyoto Protocol, 37 States, consisting of highly industrialized countries and countries undergoing the process of transition to a market economy, have legally binding emission limitation and reduction commitments. The ultimate objective of both treaties is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system.

About the World Economic Forum
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. Incorporated as a foundation in 1971, and headquartered in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests

www.weforum.org

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