Abu Dhabi, 4 September 2023 (TDI): A significant gathering of industry frontrunners convened at the Abu Dhabi Energy Center on August 29, emphasizing the urgency to amplify financial support for climate initiatives.
This pivotal event was a collaborative effort between the Asian Infrastructure Investment Bank (AIIB) and the UAE Government.
The central theme revolved around rallying financial backing from Sovereign Wealth Funds and other institutional investors to combat climate change.
This assembly was a precursor to two major events: AIIB’s Annual Meeting in Egypt scheduled for September 25-26, 2023, and the much-anticipated 2023 Conference of the Parties to the UN Framework Convention on Climate Change (COP28).
The event was graced with insightful keynote speeches and enriching panel discussions led by climate finance luminaries.
The primary focus was on strategizing the mobilization of private financing in emerging economies and empowering institutional investors to channel substantial capital toward climate initiatives.
A highlight of the event was the interactive session between Danny Alexander, AIIB’s Vice President for Policy and Strategy, and Dr Adnan Amin, the CEO of COP28.
Both visionaries discussed strengthening the synergy between AIIB and the COP28 Presidency. Their shared goal is to escalate investments in clean energy across Asia and other regions.
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This dialogue built on the constructive interactions between the two entities during COP27 in 2022. The urgency to bolster collaboration stems from the pressing need for more funds to address the climate emergency, especially in Asia.
With the challenges in meeting the Paris Agreement objectives, AIIB and the COP28 Presidency are eager to intensify their partnership as COP28 in Dubai approaches, set to commence on November 30, 2023.
In this alliance, both organizations aim to devise groundbreaking financial mechanisms to rally private and institutional capital on a grand scale.
AIIB will collaborate with its partners to launch a novel blended finance framework, channeling funds into climate-centric projects.
This initiative underscores a collective commitment to harnessing resources, expertise, and influence to amplify developmental impact.
