Emirates News Agency – ‘We look forward to working with the UAE on COP28’: IFC Climate Affairs Director
Sun 13-11-2022 11:22 AM
SHARM EL SHEIKH, 13th November, 2022 (WAM) — The International Finance Corporation (IFC), a member of the World Bank Group, looks forward to working closely with the Government of the United Arab Emirates in areas of cooperation and support before to host the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) next year, according to a senior IFC official.
Vivek Pathak, Director and Global Head of Climate Affairs at IFC, told Emirates News Agency (WAM) on the sidelines of COP27 that when the curtain falls on COP27, everyone is looking forward to COP28, which will be a big and very important event hosted by the United Arab Emirates. “We will work closely with the UAE government to see how we can work together to support each other.”
For the Middle East and North Africa (MENA), he said the region needed about $186 billion to help countries achieve their goals under the Paris Agreement, noting that between 2020 and 2030, a green recovery in the region could generate $200 billion in investment. opportunities, create 4.2 million jobs and avoid 111 million tonnes of greenhouse gas emissions.
At COP27, IFC will showcase innovative private sector solutions and focus on how to accelerate the development of bankable opportunities for decarbonization and climate change adaptation. In Sharm el-Sheikh, IFC will focus on 3 key themes: adaptation and resilience, mobilizing climate finance, and energy access and decarbonization.
Tariq Al Faham