“Window of Opportunity to Avoid Catastrophic Climate Change is Fast Shrinking’

By Stella Paul
INCHEON, South Korea, Oct 9 2019 (IPS)

“The window of opportunity to avoid catastrophic climate
change is fast shrinking,” executive director of the Green
Climate Fund (GCF), Yannick Glemarec, tells IPS.

He was speaking at the GCF Private Investment for Climate (GPIC)
Conference, which took place in Incheon, South Korea, from Oct. 7
to 9. The conference has been an important platform to encourage
greater dialogue among investors on the barriers they face, share
past and current investment experiences and exchange innovative
ideas while assuring them of all assistance and support by GCF.

“When I started my career 30 years ago though we had 80 years
before we would cross the 2 ° Celsius threshold. Today we face the
real risk of crossing it within 20 to 30 years or 40 years,”
Glemarec says.

Executive director of the Green Climate Fund (GCF), Yannick
Glemarec speaks to IPS from the GCF Private Investment for Climate
(GPIC) Conference, which took place in Incheon, South Korea, from
Oct. 7 to 9 about the need for scaling up private investment for
climate projects. Credit: Stella Paul/IPS

“In addition what we have found over the past fews years is
that 2 ° Celsius might be already far too much for a number of
countries for a number of communities for a number of ecosystems.
We thought, for example, that we would not see major threats to
ecosystems before an increase of temperature to 3, 4, 5, 6°
Celsius. Today we believe that coral reefs could be wiped out by
the time we reach 2 ° Celsius,” he says.

In this interview with IPS, Glemarec candidly shares his views
on the urgency of more actions in both climate mitigation and
adaptation and also the urgent requirement of more finances to make
these actions possible.

He also shares some details about how GCF is working to mobilise
these finances, especially from private investors as public money
is not enough to meet the massive needs. Finally, he shares some
examples of positive leadership by GCF in developing countries
where private investment helped set up and run energy projects with
great success.

The post
“Window of Opportunity to Avoid Catastrophic Climate Change is
Fast Shrinking’
appeared first on Inter Press Service.

Excerpt:

In this Voices from the Global South podcast executive
director of the Green Climate Fund (GCF), Yannick Glemarec speaks
to IPS from the GCF Private Investment for Climate (GPIC)
Conference, which took place in Incheon, South Korea, from Oct. 7
to 9 about the need for scaling up private investment for climate
projects.

The post
“Window of Opportunity to Avoid Catastrophic Climate Change is
Fast Shrinking’
appeared first on Inter Press Service.

Source: FS – All – Ecology – News
“Window of Opportunity to Avoid Catastrophic Climate Change is Fast Shrinking’