World Green Economy Organisation (WGEO) has launched financial sector platform to mobilize green investments.
HH Sheikh Mohammed Bin Rashid Al Maktoum, vice president and Prime Minister of the UAE, launched the platform in Beijing to support the efforts of public and private sector enterprises in shifting towards a green economy.
United Nations Development Program (UNDP) is supporting the platform.
“We are pleased to announce the launch of World Green Economy Organisation’s Financial Sector Platform which will serve as a forum to help raise sustainable finance, provide public and market leadership on green finance,” said HE Saeed Mohammed Al Tayer, chairman of the World Green Economy Organisation (WGEO).
China has directly invested more than $50 billion and created the Asia Infrastructure Investment Bank (AIIB), a new multilateral institution designed to finance vital public works throughout Asia’s emerging economies; and the UAE is a founding member of the AIIB.
The Financial Sector Platform will back financial institutions in their efforts to set up green financing businesses, encourage loans and provide support to public and private firms participating in green investment programs.
These platforms reflect the enormous efforts in the UAE to support the United Nations Sustainable Development Goals (SDGs) 2030 and the Paris Climate Agreement to support global efforts to mitigate climate change and find innovative solutions to challenges related to sustainable energy, water and the environment in general.