GEF 5: Magdy Martinez-Salomon, Director, UNDP, USA

Magdy Martinez-Salomon, Director, UNDP talks about the link between climate change and development and why solutions to poverty reduction go hand-in-hand with climate change solutions.

He talks about the issue of development banks funding fossil fuel projects in developing countries and says it is a complex subject because development banks are obliged to give funding to governments who qualify for that funding, even if they are planning to build fossil fuel plants.

However, Martinez-Salomon says he is hopeful that there will be a shift towards investing in renewable energy. Although coal, for example, is a quick-fix for some countries, fossil fuel development is not the correct course of action countries should be taking.

He says the fight against climate change requires sustainable solutions in order to tackle poverty and inequality.