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COP28 President-Designate engages with EU ministers in Spain to advance energy transition pathways, clean energy, climate finance and Roadmap for COP28
- Dr. Sultan Al Jaber, COP28 President-Designate, met with EU energy and environment ministers in Spain to build momentum and foster cooperation for a successful and inclusive COP28.
- Dr. Al Jaber highlighted his invitation to Parties to unite behind the world’s first Global Renewables Pledge.
- Dr. Al Jaber emphasized the critical importance of an ambitious response to the Global Stocktake, highlighting the urgent need for a major course correction to reduce global emissions by 43% by 2030.
- In remarks to EU energy and environment ministers he repeated his call to triple global renewable energy capacity to 11,000 GW and to double hydrogen production to 180 million tons.
- “We cannot achieve a global transition without the support of Europe and the EU.”
- On actions to facilitate the expansion of renewables, Dr. Al Jaber called for “accelerating permitting for projects and related infrastructure, expanding power-grid connections, increasing investment in technologies like storage, and increasing energy efficiencies.”
- On fulfilling historic climate finance pledges, Dr. Al Jaber said, “I am encouraged to believe that donors will finally meet the $100 billion commitment this year and we also need to operationalize the Loss and Damage fund this year.”
- To finance the energy transition Dr. Al Jaber said, “We need to streamline and simplify access to climate finance and find new and scalable mechanisms to channel substantial private sector investment into the Global South.”
- “This will require major IFI and MDB reform to unlock concessional finance, lower risk and attract private finance at the scale and scope needed.”
- “No one has all the answers, and there is no one size fits all solution, but by working together, we can make history together.”
- “COP28 must be a COP of Action and a COP for All if we are to deliver the game-changing transformation that the world needs.”
MADRID, Spain, July 11, 2023 /PRNewswire/ — Dr. Sultan Al Jaber, COP28 President-Designate, met EU Energy and Environment Ministers, as Spain assumes the EU Council Presidency, to discuss the plans and objectives for the upcoming COP28 conference. The meetings aimed to build momentum and foster cooperation with the EU to drive action on climate finance and tripling global renewable energy capacity.
Dr. Al Jaber stated his goal as COP28 President-Designate is to ensure a just energy transition that makes finance accessible to all, particularly in the Global South, to address climate change and ensure food security, health, and sanitation for all.
The meeting was attended by His Excellency Ambassador Majid Al Suwaidi, Director General and Special Representative of COP28, and other prominent officials. Dr. Al Jaber emphasized the critical importance of a successful Global Stocktake, highlighting the urgent need for a major course correction to reduce global emissions by 43% by 2030 and accelerate the energy transition.
The COP28 delegation engaged with EU representatives and ministers, seeking support on important topics including the Global Stocktake, climate finance, international financial institution reform, renewables, and hydrogen.
The informal joint meeting of the European Energy and Environment Ministers was attended by Spanish Deputy Prime Minister and Minister for the Ecological Transition of Spain, Teresa Ribera, and Vice-President of the European Commission, Franz Timmermans. Dr. Al Jaber outlined his expectations for COP28, emphasizing its significance as the last opportunity to keep the 1.5-degree goal within reach.
Dr. Al Jaber addressed the gathering, stating, “We have seven years to make a 43 percent reduction in global carbon emissions in order to keep 1.5C within reach. At the same time, we will see a dramatic increase in energy demand as the global population rises. The need for robust, sustainable growth ─ while dramatically reducing emissions ─ is the critical challenge of our century. A system-wide transformation of entire economies is required.”
To achieve the energy transition, Dr. Al Jaber stressed the need to triple global renewable energy sources in both domestic and international arenas and highlighted his invitation to Parties to unite behind the world’s first Global Renewables Pledge.
Dr Al Jaber reiterated the call to action he made at OPEC last week to oil and gas producing countries and companies to align around net zero methane emissions by 2030 and net zero by or before 2050.
He called on EU Member States to take the necessary steps to expand renewable capacity, such as “accelerating permitting for projects and related infrastructure, expanding power-grid connections, increasing investment in technologies like storage, and increasing energy efficiencies.”
On fulfilling historic climate finance pledges, Dr. Al Jaber said, “I am encouraged to believe that donors will finally meet the $100 billion commitment this year and we also need to operationalize the Loss and Damage fund this year.”
To finance the energy transition Dr. Al Jaber said, “We need to streamline and simplify access to climate finance and find new and scalable mechanisms to channel substantial private sector investment into the Global South. This will require major IFI and MDB reform to unlock concessional finance, lower risk and attract private finance at the scale and scope needed.”
Dr. Jaber concluded his remarks by saying, “No one has all the answers, and there is no one size fits all solution, but by working together, we can make history together. COP28 must be a COP of Action and a COP for All if we are to deliver the game-changing transformation that the world needs.”
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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Strategic launch to cater to the growing demand for luxury real estate across Asia-Pacific
HONG KONG, Nov. 5, 2024 /PRNewswire/ — DAMAC International, a global leader in luxury real estate, has officially opened its new office in Hong Kong, marking its third office in the Asia-Pacific (APAC) region. This expansion is part of DAMAC’s broader vision to strengthen its presence in one of the world’s fastest-growing regions, renowned for its rapid investment growth. The Hong Kong office is a strategic gateway to the APAC market. It allows DAMAC to better serve its expanding clientele by offering direct access to its prestigious properties in Dubai and other international locations, such as London and Miami.
The Hong Kong office will provide investors across the region access to personalised services, offering exclusive insights into DAMAC’s luxury residential towers, branded residences, and lifestyle communities. As demand from the APAC region continues to rise, DAMAC is poised to offer high-end real estate investment opportunities that cater to the needs of discerning clients.
Talking about the opening, Abbas Sajwani, Board Member, DAMAC International, stated: “This is yet another milestone in our expansion into the APAC region. The new office will allow us to be closer to our clientele. It is a testament to our belief in the region’s potential and commitment to providing top-tier investment opportunities in luxury development.”
By establishing this new office, DAMAC continues positioning itself as a leading player in the global real estate market. It further strengthens its ability to connect with clients to provide unparalleled luxury investment opportunities for long-term value.
About DAMAC International
DAMAC International has been at the forefront of the Middle East’s luxury real estate market since 2002, delivering award-winning residential, commercial and leisure properties across the region and internationally, including in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the United States, as well as the United Kingdom.
Since then, the company has delivered more than 47,000 homes with over 40,000 more in diverse planning and development phases. Joining forces with some of the world’s most eminent fashion and lifestyle brands to create tremendous living experiences, such as with Versace, Roberto Cavalli, or de GRISOGONO. With a consistent vision and momentum, DAMAC is building the next generation of luxury living across the globe.
Live the Luxury.
Visit us at www.damacgroup.com
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Fintech PR
GTN and SBI Group collaborate to launch “SBI Saudi Arabia Equity Exchange Traded Fund (ETF)”
The launch marks the first ETF dedicated to investing in the Saudi Arabian stock market listed on the Tokyo Stock Exchange.
DUBAI, UAE, Nov. 4, 2024 /PRNewswire/ — GTN and SBI Holdings announced on October 30 at FII 8th Edition 2024 in Riyadh the launch of the “SBI Saudi Arabia Equity Exchange Traded Fund (ETF)”- a groundbreaking ETF dedicated to investing in the Saudi Arabian stock market and listed on the Tokyo Stock Exchange. This fund marks a significant milestone as it represents the first ETF focusing exclusively on Saudi equities to be accessible to Japanese investors.
The collaboration between GTN and SBI Group stems from a Memorandum of Understanding (MOU) signed in May 2024 in Tokyo at the Saudi Japan Vision 2030 Event in the presence of H.E. Eng. Khalid bin Abdulaziz Al-Falih, the Minister of Investment.
Inspired by Vision 2030, the ETF is expected to reflect the performance of the Saudi market and attract Japanese investors due to Saudi Arabia’s significant economic transformation, sustainable growth, and advanced financial infrastructure. The ETF will be managed to achieve investment results linked to the “MSCI Saudi Arabia Index (yen equivalent basis)”. SBI Asset Management received the regulator’s approval, and the ETF was successfully listed on the Tokyo Stock Exchange on October 31, 2024.
As per the MOU signed between the parties, SBI Asset Management will be responsible for creating, managing and promoting the ETF in Japan, while GTN will provide research, execution, clearing and settlement services to the ETF.
SBI Group is a strategic investor of GTN and a key partner in GTN’s expansion plans in Asia.
The Chairman of GTN and its mother company NTG, Mohammed Rashid Al Ballaa said: “We are excited about the collaboration between SBI Group and GTN to launch the first-ever Saudi-focused ETF in Japan. SBI Group has access to over 10 million customers and is ideally suited to promote an ETF linked to the Saudi market in Japan. This milestone was achieved thanks to Mr. Yoshitaka Kitao, the visionary leader and founder of SBI Group.” “The ongoing support of the Saudi Stock Exchange and the Ministry of Investment in Saudi Arabia were also essential success factors in reaching this milestone,” said Mr. Al Ballaa.
At the FII conference in Riyadh, Mr. Yoshitaka Kitao said: “I am excited to be in the Kingdom and see the development that has taken place over the past few years. I am also excited to see the unfolding of the Vision 2030. I am confident that the Saudi Arabia ETF will provide Japanese investors the opportunity to participate and be part of the growth journey of Saudi Arabia.”
About GTN
GTN is a fintech pioneer with decades of success, holding broker-dealer and capital markets services licenses in multiple jurisdictions through subsidiaries. We are committed to empowering brokers, banks, asset managers, and fintechs with scalable and innovative investment and trading solutions that enable access to a comprehensive network of global markets and multiple asset classes, making investment and trading accessible to all.
GTN brings together a diverse team of over 500 talented individuals spread across Brazil, Hong Kong, Saudi Arabia, Singapore, South Africa, Sri Lanka, the UAE, the UK, and the US, united by a shared passion and purpose: empowering clients and transforming the accessibility to investment and trading opportunities for all.
GTN is backed by strategic investors IFC, a member of the World Bank Group, and SBI Group, one of the largest financial services firms listed on the Tokyo Stock Exchange. To learn more, visit www.gtngroup.com or follow us on LinkedIn.
About SBI Group
Over 25 years of successful track record, SBI Group has become one of the largest FinTech companies in Japan. Listed on the Tokyo Stock Exchange, the SBI Group has over 19,000 employees and 685 group companies. SBI Group’s main businesses are financial services, asset management, investment business, Crypto-assets and Next Gen businesses such as biotechnology, healthcare and Web3.
SBI Group companies include SBI Securities, Japan’s number one online securities company, SBI Sumishin Net Bank, Japan’s largest internet bank in terms of deposit amount, and a variety of other financial companies.
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GENEVA, Nov. 4, 2024 /PRNewswire/ — Swiss private banking group CBH Compagnie Bancaire Helvétique announces the appointment of Enid Yip as the new CEO of its subsidiary CBH Asia. Mrs Yip will also lead the Asia Regional Committee. Based in Hong Kong, CBH Asia is a key part of the Group’s strategic commitment to expand its presence in the region.
Concurrently, Patrick Wong, who has overseen the Asia business since 2017, has been appointed Deputy Chief Executive Officer. Mr Wong will continue to manage Operations, Regulatory and Compliance, and IT, while Mrs Yip will focus on enhancing the firm’s client offering and driving business development in line with the Group’s long-term strategy for Asia. With its entrepreneurial approach and exclusive and bespoke investment offering, CBH Asia offers compelling advantages to clients and relationship managers in the region.
A seasoned executive, Mrs Yip brings over 25 years of experience in successfully growing wealth management institutions in Asia. Most recently she was with LGT. Prior to that, she was a Member of the Board at Bank J. Safra Sarasin, having previously served as their Chief Executive Officer, Asia, overseeing the bank’s expansion in the region. Earlier in her career, Mrs Yip held various senior positions in the private banking industry.
Simon Benhamou, CBH Bank Chief Executive Officer said: “We are delighted to welcome someone of Enid’s calibre to lead CBH Asia. Her extensive experience and strong leadership will be instrumental in furthering our growth in key Asian markets. Our people are our greatest asset and with Enid’s strong commitment to our core values of entrepreneurship and teamwork, we are confident that she will further strengthen CBH Asia’s success. We extend our best wishes to Enid on her appointment.”
Mrs Yip said: “I am delighted to be joining a Group that fosters an environment where we can achieve great results by pursuing excellence with creativity. I am determined to expand CBH’s footprint in the region, building on our established expertise and maintaining our long-term vision of adding value for both clients and stakeholders.”
About CBH | Compagnie Bancaire Helvétique
CBH Compagnie Bancaire Helvétique is a family-owned Swiss banking group founded in 1975. Headquartered in Geneva, the Group currently counts close to 309 professionals in 10 locations around the world. As of December 31st, 2023 client assets totaled CHF 14.3 billion and the Group’s Tier 1 ratio was 43%, placing it among the best capitalized banks in Switzerland compared to its peers.
CBH Group provides wealth management services to private and institutional clients, as well as several complementary business lines, including family office solutions, asset services & structuring, exclusive private markets expertise, and bespoke daily banking and card solutions.
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