UK calls for private sector investments to combat climate change, proposes roundtable in January 2013
UK Energy and Climate Minister of State Greg Barker has called for greater investments from the private sector in the low-carbon energy space to combat climate change.
UAE-based Masdar group will partner with the UK government in putting together a roundtable on the sidelines of the Abu Dhabi Sustainability Week and World Future Energy Summit in January 2013 to attract greater investments to the low-carbon industries in developing economies.
Speaking at the Doha climate change conference Barker remarked that the roundtable in January will include some of the world's largest sovereign funds and development banks.
"This round of international climate change talks was a modest step forward.
"However, we still need countries to do more and be more ambitious about reducing their emissions if we are going to avoid irreversible climate change and prevent devastating global warming.
"The UK, as part of the EU, will be working very hard over the next year to ensure next year's talks yield even more progress and that we play our part in lowering global emissions," said Barker.
Masdar CEO Dr. Sultan Al Jaber added, "We look forward to working with the UK and relevant financial institutions during the Abu Dhabi Sustainability Week to identify mechanisms that will facilitate the deployment of climate change mitigation technologies such a renewable energy."