CANCUN, Mexico, Dec. 9 (UPI) -- There isn't a magic solution to raising the cash needed for green economic reform, though political will can advance the cause, the U.N. secretary-general said.
The world community is in Cancun, Mexico, to discuss steps to address climate change after a 2009 summit in Denmark failed to produce a comprehensive agreement.
U.N. Secretary-General Ban Ki-moon said in a statement that there isn't a "one-size-fits-all" solution to raising the funds needed to usher in a new climate era.
"We will need a variety of public and private sector sources," he said. "But with political will, leadership, appropriate public policy signals for the markets and financial ingenuity it can be done."
Ban stressed that financing wasn't the only answer when considering the threat posed by climate change but adequate cash would help build trust needed in the international community to get the job done.
Developing nations at last year's climate change conference in Copenhagen, Denmark, agreed to raise $100 billion annually by 2020 for developing countries. While that remains a daunting task, the United Nations said, it's a feasible goal.
