Some of the world’s biggest banks and investor groups have swung behind a pledge to raise $200bn by the end of next year to combat climate change.
In a move the UN said was unprecedented, leading insurers, pension funds and banks have joined forces to help channel the money to projects that will help poorer countries deal with the effect of global warming and cut reliance on fossil fuels.
The announcement came at the start of a UN climate summit in New York aimed at bolstering momentum for a global agreement to lower planet-warming greenhouse gas emissions due to be signed in Paris at the end of 2015.
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