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The Power of the Rising Development Generation Africa
The Power of the Rising Development Generation Africa
Private-Sector Investment Sought For Fight Against Climate Change
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“Private-sector investment, in addition to public-sector engagement, will be vital to effectively tackle climate change, participants of a symposium held to contribute to this year's G8 summit said Wednesday. The symposium, hosted by Japan's Finance Ministry…stressed the importance of the role of the private sector in the global fight against climate change. Jamal Saghir, Manager of Energy, Transport and Water Department at the World Bank, said that more than 85 percent of resources to mitigate the negative impact of climate change are expected to come from the private sector. To mobilize substantial private-sector capital, there is a need to reduce the risks and increase the perceived rewards of investing in clean energy, he said. …”


Meanwhile in related G8 news, Kyodo News reports that UN Conference on Trade and Development (UNCTAD), Secretary General Supachai Panitchpakdi in an interview on Tuesday “…urged Japan to exercise leadership in establishing an effective technology-sharing scheme at the upcoming G8 summit that can draw cooperation from emerging economies in tackling global warming. The former director general of the World Trade Organization also said developing nations' exports should not be stifled in the name of preventing global warming, rapping such moves by some industrialized nations as protectionist. The UNCTAD chief also voiced concern over excessive misgivings from the industrialized world about the development policies of emerging donors like China and India…”

March 28, 2008 | 2:49 PM Comments  0 comments

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