With 2016 devoted largely to getting the Paris Agreement ratified and entering into force, attention is now turning to its implementation, alongside the 17 Sustainable Development Goals (SDGs).
Established to service the international climate negotiating process, since the signing of the Paris Agreement the UN Climate Change secretariat (UNCCs) is increasingly being called on to support climate action and in particular finance action.
The global response to climate change is integral to achieve sustainable development and, on the ground, there is only one agenda (i.e. to strengthen the global response to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius). It is also clear that the implementation of the Paris Agreement and SDGs at the national level requires a greater emphasis on partnerships.
The potential investment opportunities in developing economies are enormous but there are also a high degree of risk, which is not palatable for traditional investment yet.
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Source: Eco-Business, 24 January 2017