NCE Reacts to the Signing of the Paris Agreement

Statement from President Felipe Calderón, Former President of Mexico and Chair of the Global Commission on the Economy and Climate:

“Today's signing ceremony reaffirms the commitments made last December and provides a jolt of energy to international climate efforts. I am heartened that so many countries are signing the agreement at the first opportunity, including the three highest emitters, the United States, China, and India. We've entered a new chapter, as countries have come to realize that acting on climate change is in their economic interest.”

“Now we need to move from rhetoric to reality. Financing the low-carbon transition is our next challenge. We know the capital exists, we just need to unlock it. We're already seeing positive steps, especially in the developing world. Last year, developing countries invested more in renewables than developed countries for the first time. The New Development Bank is also showing real leadership. Last week it announced its first projects: all are on renewable energy. I hope the more traditional banks will follow this example. Money is already streaming into the low-carbon economy. Once we lower the risks of low-carbon investment, it will become a flood.”

“The Paris Agreement was a triumph of diplomacy. Today's signing shows that it wasn't all talk, and that countries are ready to put in the legwork. This is an important step along the road to a better climate for all.”

News Article Type: