The Ministry of Finance is set to host a significant roundtable discussion on climate finance during the upcoming 28th United Nations Climate Change Conference of the Parties (COP28) in the UAE. Scheduled from November 30th to December 2nd, 2023, COP28 will see the UAE Ministry of Finance engaging in various events and meetings, emphasizing the pivotal role of climate finance in fostering sustainable economic development.
The ministry’s active involvement in COP28 underscores its dedication to fostering international collaboration in addressing climate challenges, aiming to secure a sustainable future for succeeding generations. Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, reaffirmed the UAE’s commitment to combatting climate change and supporting global initiatives. He stressed the urgency of addressing the impacts of climate change, deeming it crucial for sustainable socio-economic progress.
Al Hussaini emphasized the Ministry of Finance’s recognition of the necessity to bolster international cooperation and implement measures for climate resilience. This includes advocating for equitable climate financing through novel partnerships and increased investments in environmentally friendly projects, contributing to sustainable socio-economic development.
COP28 is viewed as a pivotal platform for the global community to assess collective actions and chart a course of action to tackle climate challenges. As part of these efforts, the Ministry of Finance is orchestrating a high-level roundtable titled “Scaling Up Climate Finance,” expected to bring together over 20 finance ministers from around the world. Al Hussaini will also participate in various meetings convened by the COP28 Presidency on Finance Day, December 4th, 2023, including discussions on “Available, Accessible, and Affordable: Towards A Climate Finance Architecture.”
