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My name is Yvo de Boer and I work for KPMG.
(woman) Mr de Boer, what role do you think capital markets have to play,
and how important is it for private finance to flow?
An absolutely essential role. Ultimately, although climate change
may have its origins in an environmental issue,
the solution is mainly an economic and a financial one.
Unless we manage to change the pattern of global economic growth,
climate change is going to become a very serious concern.
And to avoid that we need a clear financial strategy.
(woman) Do you think it's something governments have to do on their own,
or is it something that the private sector has to do
in partnership with governments?
It's definitely not something governments can do on their own.
If you look at, for example, investments in the energy sector,
about 85% of those come from private investors, not from public finance.
So in other words if we want to address the climate challenge
we have to effectively blend and manage public and private finance.
(woman) And what role do you think developing countries have to play,
in terms of providing the right sort of signals for private investors?
I think the developing countries
have to provide the right investment climate,
and I think it's in their interest to do that.
They have to have the right legislation in place,
they have to create
the right investment opportunities for companies,
they have to indicate what their national strategy is
and how private investments can fit into that.