ICC co-organizes public-private dialogue to help meet climate finance challenge

The dialogues will lead the way to the United Nations Framework Convention on Climate Change (UNFCCC) end of year meeting in Cancun, Mexico.

This first session of the Mexican Dialogues focused on climate change finance. It explored issues relating to the role of the UNFCCC in mobilizing the private sector finance, which will be a critical component to the delivery of climate change solutions.

Nick Campbell, Chair of the ICC Climate Change Task Force, reminded participants of ICC’s long-standing and beneficial relationship with the UN. He also addressed the importance of increased public-private sector interaction to deal with climate change. “Moving forward we see enhanced involvement of business as being critical to contribute solutions to the pressing challenge of climate change.” Mr Campbell added: “Companies need clear, stable and predictable rules and framework in order to direct investments to deal with climate change. Public finance has a clear role to play to leverage private finance, particularly in moving technology from the research and development stage towards commercialization.”

During the 3 September Geneva Dialogue on climate change, organized by the Swiss Federal Department of the environment, transport, energy and communications, Jean-Guy Carrier, ICC Acting Secretary General, spoke about climate finance to an audience of ministers and government representatives from 46 countries. Mr Carrier successfully led a discussion on key priorities for global business related to finance in the ongoing UN climate negotiations. “Institutional structures and frameworks to govern financial flows will be a critical aspect of building credibility in order to achieve global greenhouse gas reduction goals,” Mr Carrier stated.

ICC is currently working on a public policy roadmap on climate finance policy, which will be presented to governments prior to the Cancun meeting