Sorbonne University Abu Dhabi held on campus the second conference of its Pre-COP programme titled “Sustainable Finance, Green Investment and Energy Transition: Issues and Potential Solutions”. The conference featured engaging panel discussions on a wide range of topics, including the role of sustainable finance in combating climate change, effective strategies to incentivize green investment, and fostering a bidirectional relationship between energy transition and sustainable finance.
The event brought together academics, renowned experts, thought leaders and industry professionals who actively participated in discussions and explored solutions for a sustainable future. These efforts were aligned with the objectives set by the Conference of the Parties (COP 28).
During his keynote address, HE Stephane Crouzat, French Ambassador in Charge of Climate Change Negotiations commented: “The Paris Agreement has enabled us to steer towards a path in terms of temperature rise. Without this agreement, we would have been faced with a temperature increase of 4 to 5 degrees by the end of this century. Thanks to the dedication of all parties, we are currently facing a 2.5-degree increase, which marks a significant improvement. However, it is still far from sufficient, emphasizing the need for intensified efforts and a focus on the upcoming COP 28 as a key meeting to keep alive the 1.5-degree goal.”
HE Dr Abdulrahman A. Al Hamidy, General Director of the Arab Monetary Fund (AMF) said: “Our region has made tremendous efforts in terms of endorsing the Paris Agreement and the commitment to achieve the goals set for climate change. The UAE, the GCC countries and the Middle East have already started to implement green initiatives and green finance regulations.”
Dr Salem BouBakri, Associate Professor, Sorbonne University Abu Dhabi commented: “The conference on “Sustainable Finance, Green Investment and Energy Transition” is a unique and very successful event as is a brainstorming that brought together the private and public sectors, academics and policymakers in the same place. The main contributions of the conference discussions are the importance of collective cooperation to fight global warming and to achieve net zero emissions goal by 2050, as well as to mobilizing funding to enhance investments in energy transition. Those outcomes can be incorporated by the policymakers to establish a clear action plan in the COP28 UAE.”
The first panel discussion centred around the contributions of governments and the private sector’s dedication to promoting sustainable finance and energy transition. Esteemed individuals HE Dr Abdulrahman A. Al Hamidy, General Director of the Arab Monetary Fund (AMF); the President of the International Association for Energy Economics; and the Head of Executive International Affairs of Abu Dhabi Global Market (ADGM), shared valuable insights on strategic plans and initiatives in the GCC region. This session was expertly moderated by the event organizer and SUAD Associate Professor of Economics Dr Salem Boubakri.
In the second session, experts delved into the mobilization of significant investments towards a smooth financial market transition. The session highlighted the contribution of the banking sector and international funding institutions in this regard.
The third and last session focused on the targets and accomplishments in terms of renewable energy and net-zero emissions. Panelists also addressed the challenges and opportunities for investment in renewable energy.
The success of this conference further reinforces Sorbonne University Abu Dhabi’s commitment to advancing knowledge and driving positive change in the fields of sustainability and finance. It also reflects the institution’s dedication to contributing to a more environmentally conscious and economically viable future.