Climate Change - Andrew Steer "The Silent Revolution"

Developing countries urgently need a global deal on climate change but they’re not waiting for it says Andrew Steer, the World Bank’s Special Envoy for Climate Change.

Speaking to reporters in advance of the UN climate conference in Cancun next week, Steer outlined how developing countries are taking action on climate change and how the World Bank Group is helping.

The World Bank is supporting climate change activities in some 130 countries, Steer said, and a “silent revolution” is going on in terms of developing countries taking action.

"We are struck month by month by how much innovation is going on. Over the last two years, 80 percent of Bank client countries have asked that climate change be one of the pillars we work with them on,” he said. “This is up from about 10 percent ten years ago.”

This is money they could be using for other things but countries are choosing to use it for adaptation, to acquire clean technology, Steer continued.

Asked about what he thinks constitutes success in Cancun, he said progress can be made on two levels—a set of formal decisions on key topics like finance, forests, transfer of technology, mitigation and monitoring and a series of new initiatives on a range of issues that represent real progress.

Describing what he calls such “complementary” initiatives, Steer said there is enormous potential with agriculture.

Action on soil carbon is an opportunity to transform agriculture from climate change problem

UNEP Finance Initiative and partners launch the World Climate Summit

UNEP Finance Initiative and partners launch the World Climate Summit
The group includes the UNEP Finance Initiative, The UN Global Compact, The Prince of Wales's Corporate Leaders Group, The Climate Group, The World Bank, Sir Richard Branson's Carbon War Room, ICLEI - Local Governments for Sustainability, Carbon Disclosure Project, Bright Green, Club of Beijing, and the International Finance Corporation.

It will also have the support of the Mexican government's international economic promotion agency, ProMexico.

As the first founding partner of the WCS and focal point of partner investment networks, The UNEP Finance Initiative is supported by the largest coalition of investors through their membership and network who represent more than $30 trillion of assets under management.
As world leaders drive towards a global agreement on climate change, investors in the world´s capital markets cannot afford to simply sit and wait. Investors and other financial institutions are determined to work with policy-makers to catalyse new low carbon markets worth USD trillions.

"What is needed now is a stronger commitment to collectively support bottom-up efforts and to amplify the uptake of green solutions. The World Climate Summit is a platform where business can lead and inspire Governments to act to ultimately turn the tide on climate change," noted
George Kell, Executive Director, The UN Global Compact
Some key highlights of the World Climate Summit include:

•Convening, under the leadership of The UNEP Finance Initiative, the largest network of investors and financial intermediaries demanding climate change action ever assembled-representing more than $30 trillions of assets under management.

•Providing an unparalleled global media platform with CNN International, TIME, Financial Times, Wall Street Journal, and Dow Jones.