The United Nations urged global business leaders on Wednesday to double investment in wind and solar energy to US$ 600 billion a year by 2020.
One month after the Paris climate agreement, Ban Ki-moon, the UN secretary general, told business leaders they needed to act decisively to hasten the transition away from the fossil fuel economy – or they would put the historic accord in jeopardy.
“I call on the investor community to build on the strong momentum from Paris and seize the opportunities for clean energy growth,” Ban told a UN investors’ meeting in prepared remarks.
“I challenge investors to double – at a minimum – their clean energy investments by 2020.”
Global clean energy investment attracted a record US$329 billion last year, according to Bloomberg New Energy Finance.
The gathering today of about 500 investors was the third stop for Ban and other UN officials this month on an itinerary designed to get business leaders firmly behind the Paris climate agreement, after meetings in Abu Dhabi and Davos.