In a recent closing press conference, UN Deputy Chief emphasized the critical need for increased investment in infrastructure, particularly in light of the financial crisis that led to a significant decline in public investment. The Deputy Chief noted that while there has been a sharp increase in infrastructure investment since the pre-COVID era, it is essential to maintain and enhance these developments to ensure they meet global standards.

The discussion highlighted the importance of avoiding the decapitalization of previous investments, particularly in high-speed rail systems, which are crucial for modern transportation networks. This focus on infrastructure is part of a broader strategy to align investments with the Sustainable Development Goals (SDGs) and to transition from fossil fuels to renewable energy sources.

A key concern raised during the conference was the ongoing flow of capital into polluting industries, despite a growing commitment to sustainable investments. The Deputy Chief acknowledged the increase in fossil fuel investments but pointed out that there has been an even larger surge in renewable energy investments, particularly in solar energy, which has seen a 400% increase. This shift is vital as the world moves towards a greener economy.

The conversation also touched on the role of major financial institutions, such as the African Development Bank and the World Bank, in facilitating investments that aim to connect millions of people to essential services. The Deputy Chief stressed the importance of addressing emissions from the top 35 countries responsible for the majority of global emissions, indicating a collaborative effort to develop Nationally Determined Contributions (NDCs) that encompass sector-wide transitions.

The Deputy Chief concluded by linking the discussions from various international conferences, including the G20 and COP meetings, emphasizing that these dialogues are interconnected and essential for addressing the climate agenda. The commitment to investing in food systems, energy transitions, and digital connectivity is crucial for adapting to climate challenges and achieving sustainable development goals.

Overall, the conference underscored the urgent need for a coordinated approach to investment that prioritizes sustainability and infrastructure development, setting the stage for future discussions and actions in the global effort to combat climate change.