No way to fix climate without private sector -UNDP

from AlertNet

The private sector must be encouraged to help developing countries combat climate change now, before it becomes too severe to handle, the head of the United Nations Development Programme (UNDP) said.

Kemal Dervis said that while public transfers in form of official development assistance should be used to assist in "adaptation", or protection against potential catastrophes, the private sector should help finance long-term solutions.

"The shared mitigation costs will have to go through market mechanisms and will have to involve very strongly the private sector," he said on Thursday evening after giving a lecture on climate change.

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