UN Rio+20 ends with $513 bn in pledges

Global nations have committed around $513 billion in funding for a sustainable future at the United Nations conference on sustainable development (Rio+20) which ended in the Brazilian capital Rio de Janeiro on Saturday.

Rio+20's secretary general Sha Zukang said at a press briefing, ''From the very beginning we have said that Rio+20 is about implementation and concrete action. The commitments that we share with you today demonstrate that governments, the UN systems, and the nine major groups are committed and serious about implementation.''

The funding pledges came from the governments, private sector, civil society and other groups, to achieve a sustainable future.

The widely represented three-day conference was attended by around 40,000 people including 125 heads of state and government, representatives from non-governmental organisations, and private sector to shape policies aimed to promote global prosperity, reduce poverty and advance social equity and environmental protection.

In his address, the Indian prime minister Manmohan Singh said that sustainable development mandates the efficient use of available natural resources, with key focus on energy.  

''We have to promote, universal access to energy, while, at the same time, promoting energy efficiency and a shift to cleaner energy sources by addressing various technological, financial and institutional constraints,'' Singh said.