One Planet Summit 2017
Tuesday 12/12 One Planet Summit held in Paris, marks the second anniversary of the Paris Global Agreement in 2015. The agreement gave a boost to investments to fight global warming.
The European Commission has announced funds of € 9 billion to act against climate change and measures by governments, businesses and investors aim to achieve the goals of the Paris Agreement.
European Union funds are directed towards sustainable cities, clean energy, and sustainable agriculture.The European Union and its member states are the largest providers of climate finance, with a total of € 20 billion for developing countries last year.
Other measures revealed at the conference are partial withdraw investment in fossil fuels from major companies such as insurer Axa and ING Bank. Local governments across the world are signing up for improved goals on cutting greenhouse gas emissions.
The World Bank has promised to phase out most of its oil and gas funding by 2019 and has published more data on the impacts of its investments in climate change.
The group has also formed a partnership with the Global Covenant of Mayors to provide $ 4.5 billion for cities to adapt to the effects of climate change.
Bill Gates, one of the richest men in the world, also joined the pledge, promising that his philanthropic foundation would spend $ 300 million (£ 225 million) to help the world’s poorest farmers adapt to the effects of climate change.
Source: The Guardian.