(MENAFN- Saudi Press Agency) New York Rabi'II 18 1437 January 28 2016 SPA -- Investment in clean energy must at least double during the next five years for the world to keep on track with the Paris climate agreement UN Secretary General Ban Ki-moon told a global investor summit Wednesday according to dpa.
More than a month after the adoption of the landmark Paris agreement to mitigate the effects of climate change Ban challenged financial leaders gathered in New York to seize the momentum and strengthen investment in clean energy.
He called on investors to double the current level of investment in the sector which was 330 billion dollars in 2015.
He said that the 2015 level of investment was "a good down-payment" but far from the "clean trillion" - meaning 1 trillion dollars invested in clean energy - that will be required annually over the coming decades to limit climate change.
"Investors and businesses that redirect resources to low-carbon climate-resilient growth will be the economic powerhouses of the 21st century" Ban said. "Those that fail to do so will be on the losing side of history he added"
--SPA
02:36 LOCAL TIME 23:36 GMT
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