UN Secretary-General Ban Ki-moon has urged investors to increase their investments in clean energy by 2020, and shift from fossil fuels with immediate effect.

UN chief clean energy

He stated this while addressing the World Economic Forum plenary session "The New Climate and Development Imperative" in Davos, Switzerland.

Ban Ki-moon stressed on the need to shift towards sustainable energy. He said: "We need to scale up sustainable energy sources, especially in the developing world.

"The Sustainable Development Goals and climate change must go together. The Paris Agreement will reinforce climate action and make important contributions to realizing the Sustainable Development Goals. "

The UN Secretary- General said that increased investment in clean energy is the need of the hour and that around $330bn was invested in the sector in 2015, but he stressed that much more was left to be done considering the requirements of the decades to come.

The UN chief said: "The Paris Agreement will reinforce climate action and make important contributions to realizing the Sustainable Development Goals."

Taking the opportunity, the UN chief invited all worlds’ heads of states and governments to attend a signing ceremony for the climate agreement on 22 April.

He added that 55 countries’ signatures are essential for the implementation of the agreement.

The Sustainable Development Goals help countries to move towards more sustainable development models that address climate change and work towards environment protection, he said.

The chief hailed the Paris Agreement as a gateway to creation of clean energy, climate and buoyant economies. "Governments have agreed on transparent rules of the road to monitor progress, enhance accountability and foster a race to the top of climate ambition. They also endorsed the use of market mechanisms to spur the growth of carbon pricing."

The UN chief also called for elimination of fossil fuel subsidies.


Image: The UN chief urges investors to focus on clean energy. Photo: Courtesy of 2nix/FreeDigitalPhotos.net.