French Minister for Ecology, Sustainable Development, Transport, and Housing Nathalie Koscuisko-Morizet was the lead speaker at “From Fast-Start to Long-Term Finance for Climate Protection: The Need for New Funding Sources,” a panel discussion held April 11 at NYU Law on mobilizing international finance to combat climate change. Other participants included Assistant U.N. Secretary General for Policy and Planning Robert Orr; Jennifer Haverkamp, director of the International Climate Program at the Environmental Defense Fund, University Professor Richard Stewart; and other climate finance experts.
Minister Koscuisko-Morizet announced that the French government will make financing for climate and development a priority when it hosts the G20/G8 later this year. Assistant Secretary General Orr emphasized that significant new sources of international public and private finance will be required to meet the $100 billion annual Cancun target for climate financing for developing countries. The minister proposed innovative levies on international financial transactions and international maritime and aviation transport and leveraging private climate investment while also building climate-based development aid.
Following the public panel, a small private workshop was held on climate finance issues and opportunities in the upcoming international meetings and U.S. climate regulation. Participants included the panelists, the French ambassador to the United States, the French ambassador for climate change negotiations, the deputy governor of the Banque de France, and additional experts.