Fintech PR

COP28 President-Designate: Protecting lives and livelihoods should be central to our global climate response

Published

1 year ago

June 23, 2023

CISION (PR Newswire)

Closing 100bn is a first of many steps needed to support the Global South

COP28 President congratulates leadership of President Emmanuel Macron for bringing the world together again, to push for a new deal to level the financial playing field.
Summit shows “willingness to move beyond words to action”
For countries that have done the least to cause climate change, climate finance remains unavailable, inaccessible, and unaffordable. Changing that equation requires trillions in private investment, not just billions in multilateral loans.
low-income countries get only 2% of clean energy investment, and less than 10 percent of the $120 billion a year baseline requirement.
Dr. Sultan Al Jaber, COP28 President-Designate, meets global political leaders, including Emmanuel Macron, President of France, Luiz Inácio Lula da Silva, President of Brazil, Mia Motley, Prime Minister of Barbados and Antonio Guterres, Secretary-General of the United Nations, at Summit for a New Global Financing Pact in Paris.
COP28 will bring everyone together who can make a positive difference. Governments, Businesses, NGOs, and critically the financial community.
“Climate change sees no division between North and South. It is a global problem, and it requires a true global solution. It does not discriminate between peoples or countries. It is a global challenge that will require a global response from everyone, working together, only in unity and solidarity.”

PARIS, June 23, 2023 /PRNewswire/ — COP28 President-Delegate, Dr. Sultan Al Jaber, addressed the New Global Financing Pact Summit in Paris and welcomed progress to unlock climate finance while calling on delegates to go further.

During the New Global Financing Pact Summit in Paris, the COP President met with key global and climate leaders, including Emmanuel Macron, President of France, Luiz Inácio Lula da Silva, President of Brazil, Mia Motley, Prime Minister of Barbados and Antonio Guterres, Secretary-General of the United Nations, to discuss climate finance reform.

The summit, led by President Macron and Barbados Prime Minister Mia Motley, is targeting global financial reform, and driving more financial resources towards climate action and supporting the most vulnerable communities.

Clean energy investment in low-income countries represents less than 2 percent of global investment in the sector, and less than 10 percent of the $120 billion a year that is the baseline requirement, the President-Designate said at the summit.

“We need to bring everyone to the table across the financial community and use every tool in the shed,” he stated. “We need to take a comprehensive and a holistic approach to a global challenge, view climate action as an opportunity, not as a burden, and act together with unity of purpose.”

On finance, Dr. Al Jaber reiterated the need for developed nations to meet their historic commitment to provide finance for developing countries, adding that “Donor countries are finally closing in on their promise of the 100 billion in climate finance for the Global South. And I repeat, that must be delivered this year. But let’s face it, these are barely band aids, or painkillers, to a problem that requires major surgery.”

“For countries that have done the least to cause climate change, climate finance remains unavailable, inaccessible, and unaffordable,” Dr. Al Jaber said. “Changing that equation requires trillions in private investment, not just billions in multilateral loans.”

Discussing ways to unleash more private capital, Dr. Al Jaber said, “The key to attracting more private finance and capital is simply lowering the risk. Radically raising the level of concessional funding is one of the keys to unlocking commercial investment.”

With the summit focused on finance reform, Dr. Al Jaber attended a roundtable on private capital mobilization, hosted by Ajay Banga, President of the World Bank Group; Mark Carney, Co-Chair for Glasgow Financial Alliance for Net Zero and UN Special Envoy on Climate Action and Finance; and Kristalina Georgieva, Managing Director of the International Monetary Fund.

At the roundtable, Dr. Al Jaber said, “Climate finance is nowhere near available enough, accessible enough and affordable enough – especially for countries in the Global South. To make finance more available, we need to figure how to attract much more private capital into the investment pool. Private capital is the force multiplier that can really change the game when it comes to effective climate finance. To make financing more accessible, we need to simplify, speed up, and standardize access to climate funds across international financial institutions and specialized funds. And to make finance more affordable, we must drive transparency and price discovery. We must give all market participants the tools and mechanisms that narrow the gap between perceived risk and actual risk when it comes to investing in emerging and developing economies. We need to shift the narrative that views climate finance as a burden and recognizes it as an economic opportunity.”

Following a roundtable on Voluntary Carbon Markets, Dr. Al Jaber said, “”Voluntary carbon markets have the potential to be a powerful enabler in financing decarbonization efforts across industries, cities and entire economies, especially in emerging and developing economies. In order to achieve their potential, we must enhance the credibility of carbon markets and ensure that the highest-integrity standards are firmly in place. This can only be done through collaboration between governments, organizations, and civil society to create a supportive regulatory environment, establish a level playing field, and raise universal standards. By working together, acting in unity and focusing on integrity, the value of this vital tool in our collective decarbonization efforts will increase.”

The President-Designate also attended a session hosted by the Forest and Climate Leaders’ Partnership, focused on forestation and nature conservation.

Over the course of his trip, Dr Al Jaber also held private meetings with numerous industry leaders including: HE Anne Tvinnereim, Norwegian Minister of Intl. Development, Patrick Pouyanne, CEO of Total, Catherine MacGregor, CEO of Engie, Agnes Pannier-Runacher, French Minister of Energy Transition, Larry Fink, CEO of Blackrock, Bruno le Maire, French Minister of Economy and Finance, Madame Colonna, French Minister of Foreign Affairs.

Dr. Al Jaber concluded his three-day visit with additional meetings including Nirmala Sitharaman, Indian Minister of Finance, Simon Stiell, Executive Secretary of the UNFCCC, Fatih Birol, Executive Director of IEA and John Kerry, US Special Presidential Envoy for Climate.

In his closing remarks, Dr. Al Jaber emphasized the urgency to act now and deliver; “We know what we are trying to solve, and we know the gaps at hand. To do that, we must be practical, and we must focus on the how. Let’s translate our words into real and tangible actions. Let’s work in lockstep towards our common goal. Climate change sees no division between North and South. It is a global problem, and it requires a true global solution. It does not discriminate between peoples or countries. It is a global challenge that will require a global response from everyone, working together, only in unity and solidarity. If we act in true unity, we can apply pace and scope to deliver action and hope.”

For all media enquiries and requests for interviews, please contact [email protected] For up-to-date COP28 news, follow us on Twitter @COP28_UAE

Notes to Editors:

COP28 UAE:

COP28 UAE will take place at Expo City Dubai from November 30-December 12, 2023. The Conference is expected to convene over 70,000 participants, including heads of state, government officials, international industry leaders, private sector   representatives, academics, experts, youth, and non-state actors.
As mandated by the Paris Climate Agreement, COP28 UAE will deliver the first ever Global Stocktake – a comprehensive evaluation of progress against climate goals.
The UAE will lead a process for all parties to agree upon a clear roadmap to accelerate progress through a pragmatic global energy transition and a “leave no one behind” approach to inclusive climate action.

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Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

4 hours ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.

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View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html

Fintech PR

China Telecom Gulf Officially Launches in Saudi Arabia for Business

Published

5 hours ago

November 23, 2024

CISION (PR Newswire)

china-telecom-gulf-officially-launches-in-saudi-arabia-for-business

HONG KONG, Nov. 23, 2024 /PRNewswire/ — On November 21, China Telecom Gulf was officially launched in Riyadh. This milestone marks a significant step in China Telecom’s efforts to provide deep services under the “Belt and Road Initiative” and to promote the building of a “China-Arab Community with a Shared Future.” It signifies another solid advancement on China Telecom’s path toward internationalization. Mr. Liu Guiqing, Executive Director and EVP of China Telecom Corporation, delivered an opening speech, along with Mr. Fawaz, Representative of Contact Office of Chinese Companies in the KSA, Deputy General Manager of Industrial and Commercial Bank of China Riyadh Branch. Over 100 guests and leaders from the Economic and Commercial Office of Embassy of the PRC of the KSA, Saudi Telecom Company (STC), Bank of China, Huawei, and others attended to witness this momentous occasion.

In his address, Mr. Liu Guiqing emphasized China Telecom’s commitment to openness, cooperation, and mutual benefit. He expressed the company’s willingness to share its experiences in cloud-network integration, cloud transformation, intelligent operations, and technological innovation. China Telecom aims to work closely with various levels of Saudi governments, enterprises, and partners to actively participate in the development of local digital infrastructure, drive the rapid advancement of next-generation information technologies, and establish a robust bridge for cooperation between China and Saudi Arabia in the field of information technology. Leveraging its extensive resources and global operational capabilities, China Telecom plans to bring its strengths in 5G, cloud computing, artificial intelligence, and other fields to provide innovative, high-quality communication products and services to Saudi enterprises, institutions, and consumers.

Mr. Fawaz extended his warm congratulations on the opening of China Telecom Gulf. He highlighted that as a leading global provider of communication services, China Telecom possesses abundant cloud-network resources and mature international service capabilities. The establishment of China Telecom Gulf is a significant step toward supporting the digital transformation of businesses in the region. He expressed confidence that through joint efforts, the company will seize opportunities in the digital era and contribute to Saudi Arabia’s socio-economic development and practical cooperation between China and Saudi Arabia in various fields.

China Telecom showcased its global resources, business capabilities, and its investments and partnerships in the Middle East and Africa. Key services introduced included eSurfing Cloud, computing power solutions, quantum technology, and customized 5G networks. Currently, China Telecom operates branches in 42 countries and regions worldwide, owns 53 international submarine cables, and manages 27 self-operated Internet Data Centers (IDCs). Its cloud-network integrated infrastructure and customer-centric digital service systems provide coverage across the globe.

During the event, China Telecom Gulf signed strategic cooperation agreements with Saudi Telecom Company (STC), Huawei Saudi Arabia, and Baud Telecom Company. The parties committed to deep collaboration, leveraging their respective strengths to provide optimized and convenient digital experiences to Saudi customers.

The establishment of China Telecom’s presence in Saudi Arabia marks a major milestone in the company’s entry into the Middle Eastern communications market, representing a key development in its global strategy. Moving forward, China Telecom Gulf will leverage China Telecom’s robust digital infrastructure and resource integration capabilities. We will collaborate closely with local Saudi enterprises, Chinese businesses expanding internationally, and global companies to strengthen cooperation and enhance exchanges. The company aims to contribute to the growth of Sino-Saudi and Middle Eastern industrial cooperation, continuously offering more smart solutions for the development of the Middle East’s digital economy, while striving to become a world-class provider of digital and intelligent technology services.

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View original content:https://www.prnewswire.co.uk/news-releases/china-telecom-gulf-officially-launches-in-saudi-arabia-for-business-302314765.html

Fintech PR

Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

Published

20 hours ago

November 23, 2024

CISION (PR Newswire)

redefining-financial-frontiers:-nucleus-software-celebrates-30-years-with-synapse-2024-in-singapore

SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving India–Singapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of India–Singapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

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