New U.N. climate fund to take risks to promote green tech
sustainability.thomsonreuters.com | Published 05 June 2015
By Alister Doyle
A new United Nations fund set up to help developing nations tackle climate change will take bigger risks than many international lenders to promote innovative green technologies, the head of the fund said on Friday.
Hela Cheikhrouhou, executive director of the Green Climate Fund (GCF), told Reuters that donor pledges of $10.2 billion so far were a good start but only a fraction of the sums needed to curb greenhouse gas emissions and adapt to rising temperatures.
The fund will take risks to foster new technologies in emerging nations, she said, likening it to a company in a high-tech stock market index that has a lower credit rating than a blue-chip firm.
“If you want a paradigm shift you cannot be among the blue chips and be super conservative,” she said by telephone from Bonn, Germany, where almost 200 nations are working on a plan to slow global warming due to be agreed in Paris in December… read more>