When it comes to eliminating deforestation from commodity supply chains, it’s been an exciting last few years. Through the declarations made in New York and Amsterdam and most importantly the Paris Agreement, governments in many countries are making major commitments.
I’m the Private Sector Specialist with the Climate Investment Funds, an $8.3 billion portfolio of four climate finance programs working in 72 developing and middle income countries to drive climate-smart investments in renewable energy, energy efficiency, climate resilience, and forestry.
Will 2016 mark the first step to delivering on the ambition of 2015’s Paris agreement? One thing’s for certain - the private sector will be crucial in providing much of the financing needed to help developing countries meet the climate goals set in the French capital.
Investment from the private sector is essential for tackling climate change. In order to limit warming to two degrees Celsius, the International Energy Agency has called for investments of US $1 trillion per year until 2050 to finance the transition to green growth. This target cannot be reached without increasing investments and innovations from the private sector.
Jason Clay, Senior Vice President of Market Transformation, WWF looks forward after moderating the panel Multi-National Corpotations and SMEs Working Together: Sustainable Supply Chains for the Future. He notes the importance of sustainable agriculture and adaptability in business plans and development strategies.