"This shift toward a greener future is in its infancy and needs urgent nurturing," said the UN chief in his address at the opening ceremony for the High-Level Segment of the United Nations Climate Change Conference.

"Being creative, we can reduce greenhouse gas emissions while promoting economic growth," said Ban Ki-moon. "There is no trade-off between fighting climate change and pursuing development. In the long run, we can prosper only by doing both."

While describing climate change "as much an opportunity as it is a threat", the UN chief said "New economies can and must grow with reduced carbon intensity even as they create new jobs and alleviate poverty."

The high-level segment of the UN climate conference in Bali is being attended by heads of state and government and environment ministers, who are expected to make the final decision on an international agreement on enhancing global action on climate change.

"There is an emerging consensus on the building blocks of a climate agreement, including adaptation, mitigation, technology and financing. It must also be comprehensive and involve all nations, developed and developing ... And it must be fair, reflecting the principle of common but differentiated responsibilities," said Ban Ki-moon.

On the issue of equity, the UN chief said: "It is crucial that we follow through on existing commitments and ensure the resilience of populations that are or will be the hardest hit by climate change impacts."

The segment, due to conclude on Friday, was proceeded by a series of sessions of the Conference of the Parties to the UNFCCC, its subsidiary bodies as well as the Meeting of the Parties of the Kyoto Protocol.

The UN climate conference opened in the Indonesian island of Bali on Dec. 3 and it brings together representatives of over 180 countries together with observers from intergovernmental and nongovernmental organizations.