New initiative will work to meet goals of Paris Agreement through mobilization and deployment of private sector capital

Today, during the week of the 73rd UN General Assembly in New York, United Nations Secretary-General António Guterres tapped Michael R. Bloomberg, the UN Special Envoy for Climate Action, to lead an initiative that will support a global mobilization of private capital in response to the challenge of climate change. The Climate Finance Leadership Initiative will work to fulfill the private financing objectives included in the landmark Paris Agreement, which reaffirmed the goal of mobilizing at least $100 billion per year by 2020 through a combination of public development finance and private foreign direct investment.