Qatar’s Permanent delegation to the United Nations, in co-operation with Green Climate Fund, organised a high-level event on mobilising institutional investment for climate, on the occasion of holding the Climate Action Summit at the UN headquarters in New York.
Participants focused on emphasising that institutional investment is a sovereign wealth fund that provides a unique opportunity to create values for the environment and sustainable development. The event also highlighted the discussion of best practices in the management of investment as well as diversified long-term assets for investment in climate.
They sought to lay the foundations that would contribute to the unification and integration of the objectives of investment institutions to invest in developing countries.
The event was an opportunity to introduce investment institutions to the analysis and solutions provided by the Green Climate Fund to institutions that want to invest in climate as a sustainable development goal.
In this context, Qatar Investment Authority (QIA) executive director Mansour bin Ibrahim al-Mahmoud stressed that Qatar has made great strides towards achieving the Sustainable Development Goals, pointing to Qatar’s observance to the highest environmental standards in the construction of the stadiums of the 2022 FIFA World Cup Qatar.
He pointed out that Qatar has taken further measures to achieve the goals of sustainable development and the climate agreement, where it implemented huge infrastructure projects following building standards that consider climate and sustainable development goals, referring to the international awards received by Qatar.
He also presented QIA activities, saying that it is tasked with an indefinite mission to ensure prosperity for future generations in Qatar, recognising that prosperity is not achieved before ensuring the health of the planet and securing sustainable economic returns.
Al-Mahmoud voiced Qatar’s support for the transition to a more sustainable and low-carbon economy, while calling for restrictions on climate-sensitive projects and investment to take action against climate change.
He pointed out, in this context, that the QIA has taken serious steps to invest in climate and that 44% of the infrastructure to generate power is emissions free.
He noted the support provided by Qatar, noting that it has provided half a billion dollars to strengthen the strategic partnership with the United Nations and international organisations in several areas to achieve the goals of sustainable development and to maintain the highest standards of sustainable environment.
The QIA has supported several initiatives including providing clean energy to public companies and a new electricity system that will be operated by QIA branches during the World Cup, he added.
He referred to QIA’s membership in the One Planet Sovereign Wealth Fund, which was founded in Paris, and expressed its pride in being among the six founding members.
Al-Mahmoud expressed satisfaction with the fact that many of the leading fund managers this year have joined the Wealth Fund initiative, which has increased funding for projects to combat climate change.
Al-Mahmoud concluded by drawing attention to the value of the Sovereign Wealth Fund and its long-term investment prospects to ensure the future of the coming generations and achieve sustainable development goals.
The event was attended by Green Climate Fund deputy executive director Javier Manzanares, French Minister for the Ecological and Inclusive Transition Elizabeth Borne, executive managing director and chief investment officer of Japan Government Pension Investment Fund Hiro Mizuno and Denmark Public Pension Fund executive director Peter Johnson.