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10th Special Session of the UNEP Governing Council/Global Ministerial Environment Forum
Globalization and the Environment: Mobilizing Finance for Climate Change
International Environmental Governance and the United Nations Reform

20-22 February 2008 | Principality of Monaco

Highlights from Thursday, 21 February

Delegates to the tenth Special Session of the United Nations Environment Programme (UNEP) Governing Council/Global Ministerial Environment Forum (GCSS-10/GMEF) continued ministerial consultations on the theme of mobilizing finance to meet the climate challenge. The Committee of the Whole (COW) approved draft decisions on the UNEP Medium-term Strategy 2010-2013 (MTS), and the sustainable development of the Arctic region.
Photo: Conference center lobby

Web archives: Wednesday, 20 February Thursday, 21 February Friday, 22 February
 
 

Ministerial Consultations: Mobilizing Finance to Meet the Climate Challenge

Are the financial markets ready to mobilize the needed investment?

 
 

UNEP Executive Director Achim Steiner speaking during the morning's ministerial consultations

 
Bert Koenders, Minister for Development Cooperation, the Netherlands (left), moderated the panel discussion.
 

Monique Barbut, CEO and Chairman, Global Environment Facility (left photo), outlined five requirements to bring the private sector on board, including clarity and certainty on policy goals, and public institutions supporting technological “leapfrogging” in developing countries. Michael Liebreich, CEO, New Energy Finance (right photo), noted that US$100-140 billion is needed for clean energy development, and the money is available.

 

During the discussion, Marthinus van Schalkwyk, Minister of Environmental Affairs and Tourism, South Africa, expressed concern about a new fund for climate change adaptation to be established by the World Bank, which he said would duplicate the Adaptation Fund under the UNFCCC. Kristalina Georgieva, Director, Sustainable Development, World Bank (right) responded that the World Bank intends to create a small fund aiming at helping developing countries make the transition to a low carbon economy, and it will not be an alternative to UNFCCC Adaptation Fund. She also emphasized the importance of the price signal to the carbon market by asking a show of hands by ministers on who believed the price of carbon would be high in five years.

 
 
Neil Eckert, CEO, Climate Exchange PLC, Robert Tacon, Head, Risk Management, Standard Chartered Bank, Chairman, UNEP Finance Initiative, and Olav Kjørven, Director, Bureau for Development Policy, UNDP
 

Ministerial Consultations: Mobilizing Finance to Meet the Climate Challenge

Mobilizing capital - the local perspective

 
 
Apirak Kosayodhin, Bangkok Governor, Thailand (center), described the city's climate change strategy, which envisages a 15% reduction of GHG emissions by 2012.
 
 
Apirak Kosayodhin, Bangkok Governor, Thailand, UNEP Executive Director Achim Steiner, and GC President Richardo Dobles
 
 
Harish Hande, Chairman, SELCO Solar Light, described how his company's experience in promoting rural electrification in India shatters the myth that the poor cannot afford clean energy options, such as solar power.
 
Barbara James, CEO, Henshaw Capital Partners, Fernando Ibanez, CEO, Saguapace, Bolivia, and Andrew Etwire, CEO, Power World Limited, Ghana
 
Photos from the Ministerial Roundtables
 
 
Roundtable Reports
 
 

Facilitators of the four ministerial roundtables reported on the issues and recommendations arising from discussions held on Wednesday afternoon and Thursday morning.

 
Committee of the Whole:
 
 
Janos Pasztor, Director, Environmental Management Group (second from right), moderated the session
 
 
Interactive dialogue on International Environmental Governance with MEA Secretariats.
 
 
 
Donald Cooper, Rotterdam and Stockholm Conventions (center), advocated sector programmes involving all relevant stakeholders and called for national synergies.
 
 
Marco Gonzalez, Executive Secretary, Ozone Secretariat (center), described synergies between the UNFCCC and the Montreal Protocol.
 
 
COW draft decisions
 
 
Bakary Kante, UNEP, and COW Chair Jan Dusík, Czech Republic
 
 

Opposing the GEO-4 draft decision, John Matuszak, US (left), said that the report had not been endorsed by all stakeholders, and noted that past GEO reports had not been endorsed by GC decisions. Cuba (right photo) underscored the need to strengthen UNEP's scientific base.

 
Press Conference
 
 
Press conference on the Climate Neutral Network and launch of the website
 
Miscellaneous Photos
 
 
 
 
 
 
 
Web archives: Wednesday, 20 February Thursday, 21 February Friday, 22 February

 

 

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