The leaders of the United Nations system organizations believe that climate finance is critical to deliver action on the necessary scale to address climate change.
In the context of the enhanced mobilization of financial resources, developed countries are urged to deliver on the goal of mobilizing governments and the private sector to achieve the goal of USD100 billion per year by 2020 to support climate action in developing countries and further enhance their efforts on scaling-up financial resources.
The Member States are advised to maximize the positive impact of climate finance by ensuring that climate finance is used to maximize transformational change to reduce emissions and build systemic climate resilience; is accessible and benefits the most likely to be affected, including women, youth, and children.
The leaders called upon Member States to build enabling policy frameworks to facilitate access to public and private finance and to implement and scale-up public policies to redirect finance flows towards low-emission and climate resilient development.
The objective is to strengthen system-wide effort to create an enabling environment for investment, mainstream climate action across relevant national financial planning and integrate market-based instruments to sustainably crowd in and scale up responsible private sector investment.
Member States are encouraged to share their national climate finance roadmaps, viable approaches, and success stories.
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