2023-08-15 05:58:52
Tuesday Aug 15, 2023
ABU DHABI -> The COP28 Presidency has announced that it will convene an independent high-level expert group on climate finance in the UAE this week to advance steps to reform international finance ahead of this year’s UN climate summit in Dubai. The two-day meeting on August 15 at Abu Dhabi Global Markets (ADGM) will bring together the world’s leading economists, private sector leaders, the COP 28 Presidency and high-level UN climate change champions. IHLEG develops and presents policy options and recommendations to enable the public and private investment needed to meet the ambitions of the Paris Climate Agreement. Dr. The committee chaired by Vera Songwe and Professor Lord Nicholas Stern, Dr. Amar Bhattacharya also serves as the Executive Secretary. The talks are designed to set the stage for the climate summit and ensure that the two-week summit delivers concrete steps on international financial reform. The IHLEG will assess progress on the climate finance landscape and develop a roadmap for the necessary actions leading up to COP28 and beyond. The ultimate goal of the IHLEG is to advance a comprehensive financial framework for resource mobilization to provide an equitable and efficient climate finance system as set out in the Paris Agreement and the Glasgow Agreement. The IHLEG will build on the action agenda emerging from the Paris Summit and ongoing work on MDB reform at the G20. The group will explore overcoming geopolitical constraints and identifying gaps and barriers that may require targeted interventions. The meeting will be attended by Ahmed Jassim Al Zabi, Chairman of Abu Dhabi Department of Economic Development (ADEd) and Abu Dhabi Global Market (ADGM). Lord Nicholas Sterne, Dr. Vera Songwe, Co-Chairs of IHLEG Amar Bhattacharya, Executive Secretary of IHLEG Kristalina Georgieva, Managing Director of IMF, senior representatives of World Bank and other financial experts from around the world. . “We are proud to host the Independent High-Level Expert Group meeting in Abu Dhabi this year and collaborate with global experts to chart a path to a greener and more sustainable future. Climate finance’. Our goal is to invest capital into projects that advance the transition to a net-zero future,” said Al Sabhi regarding the importance of the meeting. IHLEG will launch a final report on the issue at COP28 and establish an engagement plan of action with key stakeholders involved in implementing the roadmap at the conference. Read on deshabhimani .com
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