Notas de prensa y comunicados

Climate Finance MinisterialMeeting, Lima Oct. 9th - Press Release by Minister Segura and Minister Sapin

On October 9th, we hosted a ministerial meeting in Lima where more than 50 Ministers and 20 Heads of International organizations engaged in a discussion on the progress, challenges and perspectives regarding climate finance, with the view to provide the UNFCCC with useful insights on the matter. After listening to the inspiring opening intervention of the United Nations’ Secretary General, OECD’s Secretary General presented us withhis assessment of climate finance mobilized inthe2013-2014 period, followed by UN’s Assistant Secretary General for climate change, who presented the trends of private finance towards a low-carbon and climate resilient world.

We, as many other participants, welcomed the work done by the OECD, which estimated the level of mobilized climate finance towards developing countries at USD 62 billion in 2014 (and an average of USD 57 billion for 2013-2014). The document was regarded as an important contribution to inform the existingefforts to improve transparency and methodological progress when reporting and tracking climate finance.

We Heard the calls of many countries for scaled-up mobilization of public and private climate finance up to and beyond 2020 as well as for clear leadership from developed countries in mobilizing finance. The particular need for increased finance for adaptation was widely recognized. We were encouraged by hearing several announcements of additional public finance made by developed countries Ministersas well as by Heads of multilateral institutions. Among these, France reiterates its intention to increase its climate finance from 3 billion € in 2014 to over 5 billion€ by 2020. We look forward to the realization of these announcements and further mobilization by others.

We also welcome UNSG’s assessment which highlighted the early signs of a deep shiftof private investment towards a low carbón and resilient economy, while also stressing the need of development appropriate strategies for sustaining and enhancing this effort. Developed and developing countries governments both have a crucial role to provide the adequate enabling environments for this to happen. We heard the FSB Chairman emphasize that climate change can jeopardize financial stability and announce tha this institution would elaborate proposals for the G-20 to evaluate on how to disclose climate risks.

We highlight the urgent need, stressed by many, to scale-up public and private finance for adaptation, in order to support developing countries to cope with climate change impacts. We welcome the different initiatives presented in that regard, such as the Initiative for renewable energy in Africa, the G7-led effort to develop insurance for climate resilience, and the climate risks early warning systems initiative.

Overall, this meeting highlighted the need for strong involvement of Ministers of finance of both developed and developing countries. The discussion emphasized that both the mobilization of the private financial community and the provision to developing countries of scaled up financial resources, up to and beyond 2020, are essential. In this respect, we are convinced that a positive dynamic is underway in terms of mobilization and transparency.

We are confident that these positive discussions will contribute to paving the way towards a successful outcome in Paris, and beyond, towards the realization of long-term sustainable development of the economies.