Investcorp announces support for COP28
Investcorp, a Bahrain-based alternative investment manager, has taken on the role of an ‘Associate Pathway Partner’ to 28th United Nations Climate Change conference (COP28).
Taking place at the Expo City in Dubai from November 30 to December 12, the event is the latest edition of an annual event used by governments to agree on policies to limit global temperature rises and adapt to impacts associated with climate change.
Investcorp’s sponsorship aligns with the UAE’s commitment to make COP28 a turning point by bringing policymakers, climate experts, innovative businesses, and capital providers together to accelerate tangible solutions to address decarbonisation and the impacts of climate change.
With a 40+ year track record of identifying, investing in, and scaling transformative businesses, Investcorp recognises the essential role that private capital and expertise must play as a catalyst to action and results.
“Recent climate events and record temperatures around the world underscore the reality that we are facing increasing risks with limited time to act,” said Mohammed Alardhi, executive chairman of Investcorp.
Opportunity
“COP28 has laid out its priorities, amongst which, delivering urgent action on climate finance from governments and the private sector is one of the most critical to changing course. We have an opportunity to come together at COP28 to make real progress, and the UAE’s ambitions mirror Investcorp’s dedication to bring our capital and business-building experience to the strategic investments and transformative projects that create solutions.”
Rishi Kapoor, co-chief executive of Investcorp, said: “COP28 will mark the first Global Stocktake of where the world stands in meeting the Paris Agreement climate goals, and we know that progress to-date is behind plan. Our sponsorship of COP28 demonstrates Investcorp’s support and commitment towards playing a leading role in the capital reallocation and new investments that rapid decarbonisation requires. We will be announcing additional major initiatives between now and November that will further underscore our commitment.”
The United Nations Framework Convention on Climate Change Standing Committee on Finance defines climate finance as finance that aims at reducing emissions, and enhancing sinks of greenhouse gases and aims at reducing vulnerability of, and maintaining and increasing the resilience of, human and ecological systems to negative climate change impacts.
Along with its sponsorship at COP28, Investcorp has announced its support of net zero greenhouse gas emissions by 2050 or sooner.
Source: https://www.gdnonline.com/Details/1290981/Investcorp-announces-support-for-COP28
