Ministers and officials from developed and developing countries, UN officials, institutional investors and banks will meet in Copenhagen on 23 and 24 October to discuss ways to increase climate related investments in developing countries.
The Danish Minister of Climate, Energy and Building Martin Lidegaard will host the Copenhagen Climate Finance Meeting on 23 October at the new UN City in Copenhagen. Participants will discuss what governments can do to leverage climate related private investments projects in the developing world. On 24 October, the US government will host the second donor climate finance meeting, equally in Copenhagen, at Eigtveds Pakhus by the Foreign Ministry.
During the 2009 UN climate conference in Copenhagen, developed countries agreed to jointly mobilize $100 billion a year from 2020 to address the climate related investment needs of developing countries. The intention is to reduce greenhouse gas emissions in developing economies and to help the world’s poorest nations respond to the effects of climate change by way of innovative sulotions, such as drought-resistant crops.
“We need to activate private investors. There is enough capital out there. Through better regulation we can help ensure that investments flow to climate related projects,” says Minister of Climate, Energy and Buildings Martin Lidegaard.
Climate finance will be a central theme at COP 19 in November in Poland’s capitol, Warsaw. The meetings in Copenhagen should provide concrete input to the negotiation’s at the UN’s annual climate change summit.
Climate related investments are often seen as more risky than other types of investments. Policy uncertainty and regulatory barriers reduce the willingness to invest in climate projects.
“Denmark has summoned representatives from developing and developed countries before to stimulate the climate negotiations in critical areas. We hope to do so again. We take aim at the question of how we can collectively mobilize the needed capital for climate related investments in developing countries” says Climate, Energy and Buildings Minister Martin Lidegaard.
Climate and finance ministers from 22 countries and the European Commission have been invited to attend the Copenhagen Climate Finance Meeting, together with representatives from 18 of the world’s leading institutional investors, development banks and other relevant parties.
The Copenhagen Climate Finance Meeting will take place the day after the Global Green Growth Forum, which will be hosted by the Danish prime minister.
Source: Danish Ministry of Climate, Energy and Building