UN Deputy Secretary-General Amina Mohammed on Wednesday asked investors to align their portfolios with the goals of the Paris Agreement as climate change poses a systemic macroeconomic risk and a risk to the financial system itself.
Speaking at the opening of the 2018 Investor Summit on Climate Risk, Amina Mohammed said that moving rapidly toward a low-carbon, climate-resilient future requires action on the way finance itself works.
"Fixing finance is not a new agenda, but the need to align financial flows with climate-friendly outcomes makes it all the more urgent."
She called for joint action from policymakers, regulators and the market to make the transformation a reality. "Together we need to shape and guide financial systems, regulations and measures to be fit for this purpose."
"There cannot be one grand plan... but there needs to be one grand ambition. We can scale up through the actions of many, and by working together," she added.
