Challenge of coodination and coherence needed to be addressed quickly
High-level representatives from across the sector at COP23 Finance for Climate Day had highlighted their efforts to meet the goals of the Paris Climate Change Agreement. The high-level representatives underlined that this challenge of coodination and coherence needed to be addressed quickly. Raising ambition to act on climate change and raising the large amount of finance needed to do it are so completely inter-connected that governments and the entire financial sector must see it as a single challenge. Eric Usher, Head of UNEP Finance Initiative said, "At the heart of the climate challenge are two gaps we urgently need to bridge: the ambition and the investment gap.” “ It is up to national governments now to increase the ambition of their NDCs to close the 17 GtCO2e emissions gap that we still face for 2030. When it comes to the investment gap, however, we need all financial players - public, private, domestic, international - and including markets and regulators, to work...