Lord Nicolas Stern
‘With hindsight, I now realise that I underestimated the risks. I should have been much stronger in what I said.’
A study by the Global Commission on the Economy and Climate, co-chaired by Lord Nicholas Stern, found that the world will need to invest about $90tn in infrastructure over the next 15 years, requiring an “urgent” shift to ensure that this money is spent on low-carbon, energy-efficient projects. As the article claims: “the window for making the right choices is narrow and closing fast”.
UNFCCC Climate Finance
This article by Sophie Yeo on the Carbon Brief website explores the issue of climate finance, which is currently difficult to measure accurately. The article identifies a number of challenges, including a lack of systematic data collection and accounting. Oxfam says that “only climate finance labelled as ‘principal’ under OECD-DAC rules should be counted against UNFCCC climate finance commitments”. By all accounts, meeting the $100bn target remains some way off, according to OECD analysis and OXFAM reports.
2015 PARIS MEETING