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Climate action plans announced

A raft of new plans were announced to tackle climate change at yesterday’s One Planet Summit in Paris.

Patricia Espinosa, Executive Secretary UN Climate Change hailed the Summit as “another extraordinary moment in the world-wide efforts to turn the promise of the Paris Agreement into a global reality—in other words delivering a climate secure future to all corners of the Earth and contributing to the sustainable future of every man, woman and child,” she said.

She added: “From the United Nations system to governments and investors, billions of dollars have today been mobilized and trillions more pointed towards a transformation of the world’s energy to agricultural sectors, adding to the finance that has already been flowing before, during and since Paris 2015”.

The Climate Action 100+ project was one of the initiatives unveiled in Paris. It brings together 225 international ‘institutional investors’ with a combined USD $26.3 trillion in assets. They will work with more than 100 of the biggest corporates, that are the biggest emitters, to guide them to take better decisions for the environment.

And banking giant BNP signed a deal with the United Nations Environment Programme to support climate-friendly projects in developing countries.

“UN Environment and BNP Paribas will collaborate to identify suitable commercial projects with measurable environmental and social impact, with a target of capital funding amounting to USD 10 billion by 2025 in developing countries.

“The aim is to support smallholder projects related to renewable energy access, agroforestry, water access and responsible agriculture among other sustainable activities,” BNP Paribas said.

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