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UAE Alternative Investment Management Summit focuses on climate finance

DUBAI: The Alternative Investment Management Summit (AIM) was recently held in the UAE with a focus on climate finance. Investors, regulators and industry leaders from across the globe gathered to discuss the role of the private sector in combating climate change.

In his opening keynote address, Badr Jafar, CEO of Crescent Enterprises, emphasized the importance of the private sector playing a key role in climate finance. He noted that achieving net-zero emissions by 2050 would require a global investment of $4 trillion per year. Developing countries would need to invest $4.2 trillion per year to achieve the goals of the Paris Agreement.

Jaafar also addressed the vulnerability of the Middle East and North Africa region, where natural water scarcity and rising temperatures portend an increase in droughts and extreme weather events. He emphasized that the private sector must play a role in addressing these challenges.

UAE Alternative Investment Management Summit focuses on climate finance

Later this year, the COP28 Business and Philanthropy Climate Forum will be held in the UAE. The forum will seek to mobilize global business and philanthropic leaders and policymakers to push for bolder climate action, Jaafar said.

The AIM Summit is one of a series of events preparing the UAE for COP28. The events aim to put the role of the private sector at the heart of the climate change conversation, emphasizing that real, impactful progress can be made when business and philanthropy are engaged and catalytic capital flows are directed to address the world’s most pressing needs.

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