Closing Remarks by The

CLOSING REMARKS BY THE

DIRECTOR GENERAL OF UNIDO

AT THE

HIGH LEVEL BUSINESS SUMMIT

16 November 2016

8:30P.M.

Excellencies,

Distinguished guests,

Ladies and Gentlemen,

It is my pleasure to deliver the closing remarks at the high-level business summit. At UNIDO, private sector development and pursuing green economic growth are at the core of our services.

With the mounting pressure to reduce greenhouse gas emissions to achieve the targets of the Paris Climate Agreement, we believe that the role of the private sector is becoming increasingly relevant for combating climate change.

Technology, entrepreneurship and innovations offered by the private sector are essential elements of the solution. However, there are a number of prerequisites to drive the market for climate friendly paths.

First, public policy is essential for identifying the opportunities, setting the priorities and shaping the incentives and conditions for private sector engagement. There are many models in which Governments in developed andemerging economies have demonstrated how engagement with the private sector can deliver results towards a low carbon development path. The Top-1000 Energy-Consuming EnterprisesProgram of China is a good example of how the Chinese Government negotiated agreements with 1000 energy-intensive companies, which accounted for 33% of the national energy consumption. The agreements defined the energy reduction targets that should be achieved through a negotiated process. The Government in return provided the supporting programs and policies, including the audits, assessments, benchmarks and financial incentives, to drive action.

A second prerequisite to drive the market for climate friendly paths isthe pursuit of role models and champions from the private sector willing to deliver solutions for clean technologies in developing countries and to assume the social responsibility to support the green development path. For example, UNIDO engaged in a partnership agreement with Phillips to establish community lighting centers in West Africa. To date, about 54 centers were established, facilitating access to energy to over 5000 people in villages. While multinational leading companies such as Phillips have integrated sustainability into their company goals, SMEs and entrepreneurs also have the opportunity to catalyze action towards climate change mitigation within their networks.

UNIDO believes that it is critically important for developing countries to play an active and direct role in building the technology responses required to tackle the challenge of climate change and support the development of locally driven innovations. SMEs and early stage entrepreneurs require adequate support to further develop their innovative technology and business ideas and link those to national and global investors and markets.

Ladies and Gentlemen,

It is evident that the green path also offers opportunities for business growth and job creation. UNIDO is mandated with Inclusive and Sustainable Industrial Development and will continue to support developing countries and countries with economies in transition to create the fertile environment for the private sector to develop the green economic path.

There is no single development strategy and no single actor that can address all of the social, environmental and economic challenges we are facing. Integrated and multi actor responses are required to tackle these challenges. Therefore UNIDO views multi-stakeholder partnerships as crucial for effectively managing the transformation towards inclusive and sustainable industrial development.

Finally, I would like to congratulate the Moroccan Government and the General Confederation for Moroccan Industries (CGEM) on the conclusion of the Marrakech Declaration and I am confident that with the dialogue initiated here between the private sector and the Government that the declaration will be successfully implemented and will reach its set objectives.

Thank you.

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