HAMILTON, Bermuda, Nov. 30, 2023 /PRNewswire/ — The Government of Bermuda is pleased to be represented at the COP28 summit in Dubai, scheduled for November 30 – December 12, 2023.

The event will be attended inter alia by the island´s Premier The Hon David E Burt JP, MP and Deputy Premier The Hon Walter Roban JP, MP. The seniority of the delegation reflects the commitment of Bermuda and its people to becoming the climate risk capital of the world, and its key position in oceanic conservation, and as a leader on Net Zero initiatives in its own right.

With this in mind, the Government has published today a White Paper on its approach:

“The Bermuda Difference

Bringing expertise, resource, and finance to the world´s biggest challenge”

The paper and a related video are at the links below:

White Paper – https://www.gov.bm/sites/default/files/2023-11/The%20Bermuda%20Difference%20-%20COP28.pdf

Video – https://youtu.be/qMAaaAf_ETQ

The publications between them highlight Bermuda´s focus:

• As custodian of the largest maritime area in the world, some 460,000 sq km of ocean, a fifth of which it has designated as an Economic Exclusive Zone (EEZ) protected fully from human activity. Bermuda is also the lead trustee of the dozen or so countries looking after the Sagasso sea, a crucial asset for conservation and spawning.
• In its expectation of matching or exceed the achievements of some of the leading signatories to Paris, with already 100% replacement of the bus fleet with EVs, on track for 85% reduction in carbon footprint by 2035 and Net Zero by 2050.
• With the installation 15MW of solar capacity in the last three years, more than many much larger Paris signatory nations have managed.
• Its stated ambition of becoming the world´s climate risk capital, from its existing position as the underwriting hub of one third of the world´s climate catastrophe insurance.

Minister Roban said:

“The environment, particularly in its maritime aspect, is at the heart of national life and economic policy.  We welcome COP28 as a further opportunity to share and to build on our unique and vital contribution to the planet in this area.

Our world leading insurance and financial services sector plays an ever-growing part in providing security and mitigation for those most affected by climate change.

As the proverb goes, “we inherit from our parents, but are borrowing from our children”. The time for action is now.”

Enquiries:
Simon Brocklebank-Fowler, Firehouse Communications Ltd; +44 (0)7717393772, [email protected]

Local Contact
Michael Brangman, Communication Officer, [email protected]

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• Part of Abu Dhabi Finance Week, R.A.C.E. served as a platform that discussed many critical topics financing the transition to a net-zero economy, climate finance, carbon markets, and sustainable capital markets.
• Some of the gripping sessions had renowned speakers such as H.H. Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, H.R.H Prince Khaled bin Alwaleed bin Talal Al Saud and Ronald P. O’hanley.

ABU DHABI, UAE, Nov. 30, 2023 /PRNewswire/ — The second edition of the R.A.C.E (Regulation, Awareness, Collaboration, Ecosystem) Sustainability Summit took place today at Abu Dhabi Finance Week (ADFW) presented by Abu Dhabi Global Market (ADGM) in partnership with HSBC. R.A.C.E Sustainability Summit aimed to reaffirm the UAE’s commitment to advancing the global sustainability agenda, capping a series of discussions, insights, and forward-thinking solutions that are set to shape the future of finance.

During this event, R.A.C.E. delved into the critical question of whether Climate Finance represents the greatest capital reallocation in history. The conference aimed to identify strategies to bridge the USD 11 trillion capital gap between what is required for achieving net-zero emissions and the capital currently available for such initiatives.

The summit focussed on addressing a wide range of topics including financing the transition to a net-zero economy, climate finance, carbon markets, and sustainable capital markets. These discussions were led by prominent figures from the financial and regulatory sectors through keynote addresses and panel discussions.

In tandem, the Global Financial Regulators Summit, a key highlight of the event, presented the outcomes from a pivotal gathering of global financial regulatory leaders, shedding light on the role regulators play in shaping the financial landscape of the future, especially for climate financing.

A keynote speech by Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of the UAE Independent Climate Change Accelerators (UICCA) and Founder of the Shamma bint Sultan Sustainability Initiatives Social Enterprise, spoke on reframing the paradigm to emphasising both the investment opportunity and risk mitigation aspect of climate finance to create global financial stability. Other prominent speakers such as Ronald P. O’hanley, Chairman & CEO of State Street Corporation spoke about the evolving strategies of asset managers as they approach transition finance, and H.R.H Prince Khaled bin Alwaleed bin Talal Al Saud, Founder & CEO of KBW Ventures about ‘impact investing’ for investors during a transitioning era.

The event also witnessed 28 new signatories for the Abu Dhabi Sustainable Finance Declaration, bringing the total count of signatories to 145, and showcasing their commitment to sustainability and climate financing.

Among the several announcements during today’s R.A.C.E. Sustainability Summit, the key ones included NinetyOne announcing the firm’s intention to establish a presence at ADGM in 2024 and Independent Financial Services Group – Rothschild & Co., European fast-growing asset manager – Eiffel Investment Group and TimeToAct announcing receiving their In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM.

Other major announcements included, NewVest announcing the world’s first Private Green Energy Transition Funds Index (GET-PIF) which is set to be a capital gateway for private investments critical to supporting successful energy transition.

Commenting on the event, Emmanuel Givanakis, CEO of the FSRA of ADGM stated, “The second edition of R.A.C.E. Sustainability Summit at ADFW has reinforced the importance of the global financial community’s collective commitment to addressing climate change. We are proud to host an event that brings together global thought leaders and experts to explore innovative solutions for a more sustainable future. At ADGM, we see ourselves as an important driving force in the UAE’s journey towards a net-zero future by 2050 as we create an ecosystem with a robust regulatory framework that champions sustainable finance and climate transition. As we stand on the cusp of profound change, our unwavering commitment empowers both the public and private sectors to join forces in closing the green financing gap that expedites the transition to net zero while also shaping the sustainable financial landscape of the future alongside the COP28.”

R.A.C.E served as a pre-prep event for COP28 where critical negotiations related to Climate Finance took place. ADGM plans to continue this conversation at a much higher level at COP28, being the official Principle Climate Finance Partner and hosting the sixth edition of the Abu Dhabi Sustainable Finance Forum (ADSFF) on the 4^th of December 2023, convening important decision-makers and contributors to sustainable finance and ESG initiatives across global borders.

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BAJA CALIFORNIA, Mexico, Nov. 30, 2023 /PRNewswire/ — Antarctica Advisors International Corp, the leading cross-border Seafood Industry-focused M&A advisory firm, acted as the exclusive investment banking advisor to Mexico’s Baja Aqua-Farms (“Baja” or the “Company”), one of the largest vertically-integrated Bluefin tuna ranchers in the world, in its sale to a world-class investment consortium formed by Paul Fribourg’s Continental Grain Company (“Conti”), Sam Zell’s EGI, Mexico’s Organizacion Cultiba, and Castle Harlan.

Founded in 2000 and headquartered in Baja California, Mexico, Baja Aqua-Farms (www.BajaAquaFarms.com) is located on the Pacific Ocean, in the pristine waters of Baja California. The Company produces fresh top-quality Bluefin Tuna, which is sought out by top chefs and supermarket chains in the US, Japan and around the globe.

The Antarctica Advisors specialized Seafood Team provided the Company with full-fledged M&A advisory services, marketing the opportunity, identifying the investor group and structuring and negotiating the transaction. Our international team worked closely with management and shareholders to bring this highly complex cross-border transaction to a successful completion.

Conti, EGI and Castle Halan are multi-billion US private equity funds with long track records of investing in high-quality food assets around the world. Organization Cultiba (ticker CULTIBA.MX), is a holding company participating in GEUSA, PepsiCo’s exclusive bottler in Mexico, among other assets.

Antarctica Advisors International Corp is a US-based, independent investment banking firm providing international clients in the global Seafood Industry with specialized cross-border, industry-focused M&A advisory as well as private equity and debt capital raising services. 

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