2023-07-13 21:18:30
Windsor (loan)
His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, President-designate of the Conference of the Parties «COP28», affirmed that the UAE is working according to the vision and guidance of the leadership, in facing global challenges with a positive mindset and innovative means, and is keen to cooperate with partners who adopt the same visions, ideas and directions in work. climate change to achieve sustainable development and build a better future for everyone, everywhere.
This came during His Excellency’s participation in high-level discussions on climate finance, with His Majesty King Charles III, King of the United Kingdom of Great Britain and Northern Ireland, His Excellency Joseph Biden, President of the United States of America, and a number of major investors and charitable leaders, on the sidelines of the events. The Climate Finance Stimulus Forum, held in the United Kingdom, to discuss ways to enhance this financing in innovative ways that contribute to activating work and achieving a logical, practical, gradual and fair transition in the energy sector.
His Excellency conveyed the greetings of the leadership in the UAE to US President Joe Biden and His Majesty King Charles III, stressing the UAE’s keenness to strengthen the existing partnership with the two friendly countries in various fields.
His Excellency also participated in the “Stimulating Climate Finance” forum held by His Excellency Grant Shapps, Minister of Energy Security and Climate Neutrality in the United Kingdom, and John Kerry, the US Special Presidential Envoy for Climate, in the presence of Mark Carney, the United Nations Special Envoy for Climate Action and Finance, and a group of leaders Commercial companies and charitable institutions in the fields of finance, sustainability and climate action, where His Excellency extended an open invitation to all parties to raise the ceiling of their ambitions in preparation for “COP28” and continue to stimulate commercial and charitable institutions in the United Kingdom and the United States to do so.
On this occasion, His Excellency Dr. Sultan Ahmed Al Jaber said that the leadership of the United States and the United Kingdom have a decisive role to play in fulfilling climate finance pledges and attracting more capital, adding that it is necessary to fulfill the commitment to provide the $ 100 billion in annual climate financing that was pledged in 2009. And noting that the recent indications are encouraging and indicate that this commitment will be fulfilled. His Excellency stressed the urgent need to increase climate finance from billions to trillions of dollars, in order to achieve global goals related to climate, biodiversity and sustainable development. Money and financing are critical enablers of climate action, and there is an urgent need to make financing available on concessional terms and at an affordable cost to everyone around the world.”
He added, “Climate change is a global problem that requires an effective global response, and all active financial institutions must work within a new framework of cooperation and solidarity to enable climate finance to the necessary extent, the desired scale, and the speed the world needs, so I am pleased to announce that the Conference of the Parties (COP28) will host a high-level forum.” To support the role of commercial companies and charitable institutions in climate action, focus on overcoming difficulties that impede the achievement of the desired progress, display successful models, identify opportunities for cooperation and joint creativity, and accelerate achievement. His Excellency also reaffirmed the need for a radical development of international financing institutions and multilateral development banks, and explained that in order to invest the required amounts, new mechanisms must be adopted to mitigate risks and stimulate the private sector to work in the field of climate on a large scale. He said, “We need to implement a comprehensive and integrated approach supported by effective cooperative frameworks, and not be satisfied with gradual reforms.” During his discussion of the data presented by the institutions that attended the forum, His Excellency Dr. Sultan Al-Jaber said that initiatives such as the “Climate Finance Catalyst Forum” provide major opportunities to achieve the desired progress. The funding announced today by some of the leading actors in the private sector and global charitable organizations is what we really need To be achieved in preparation for the launch of «COP28». His Excellency also praised the progress made by the World Bank’s Private Sector Investment Lab initiative in finding solutions to address the difficulties that hinder private sector financing for climate action, and stressed that supporting and stimulating private sector investment is at the top of the priorities of the presidency of the Conference of the Parties «COP28», expressing his aspiration to include Applicable Lab Recommendations to the COP28 Action Agenda on Climate Finance.
His Excellency explained that the United Kingdom and the United States include two of the largest financial markets in the world, stressing that what was announced today by them in terms of measures and financing must be repeated on a global scale to preserve the possibility of achieving the goal of avoiding the rise in global temperature above 1.5 degrees Celsius. Celsius.
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