Private sector participation vital for achieving climate goals, says UN Climate Champion

At a panel session during the 2024 UN Climate Change Pre-Conference of Parties (Pre-COP29), Nigar Arpadarai, the UN High-Level Climate Champion for COP29, emphasized the crucial role of the private sector in achieving the set climate goals.

Report informs that she said climate finance would be insufficient without the active participation of private capital.

"We need the private sector," Arpadarai stressed. However, she pointed out that small and medium-sized enterprises (SMEs) are often lagging behind in this regard. "This is another goal we want to achieve. Because small and medium-sized enterprises are the real economy, they provide 90% of economic growth," she added.