Wednesday, February 28, 2024

The conference discusses securing export credit and stimulating positive climate impact

Date:

Dubai: “The Gulf”

Etihad Export Credit, a credit protection agency affiliated with the Government of the United Arab Emirates, hosted a conference on “Securing Export Credit and Driving Positive Climate Impact” on the sidelines of the Conference of the Parties to the United Nations Climate Change Conference. Transition (COP28), based on its commitment to promote international dialogue on sustainable trade and export credit insurance.

The event was opened by Abdullah bin Duq Al Marri, Minister of Economy and Chairman of the Board of Directors of Etihad Export Credit Company, where participants discussed the important role of export credit insurance in the transition to a low carbon economy. The importance of these financial solutions in stimulating environmentally responsible practices and driving innovation in climate-friendly sectors, and preparing financial resources to achieve climate neutrality by 2050.

Abdullah bin Duq said: “Today’s event at the United Nations Climate Change Conference (COP28) represents an important step in our cooperation towards a greener future, and dedicates our efforts to laying the foundations for a more sustainable and prosperous tomorrow as the UAE. It is committed to leading sustainable economic development, and to extend.. . “Future generations will have the skills and opportunities to thrive in the world, aware of the environment around them and the importance of protecting it.”

For his part, Raja Al Mazrouei, CEO of Etihad Credit, said: “The event reaffirmed Etihad Credit’s commitment to drive sustainable economic growth and promote the UAE’s position in promoting climate awareness initiatives. It can highlight the agencies’ essential role in contributing to the global shift towards sustainable export credit practices, And its discussions contributed to identify avenues of future collaboration and innovation in the field.

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The event brought together global leaders and experts from the fields of finance, technology, renewable energy and international trade, featuring keynote addresses and panel discussions. The discussions provided a comprehensive overview of the important role export credit insurance can play in supporting the transition to low-carbon economies and promoting green growth in regions such as Africa. In addition, participants highlighted the Green Investment Initiative in Africa, through which the UAE pledged $4.5 billion to stimulate African countries’ efforts in the clean energy sector, as Etihad Export Credit contributed to the initiative. $500 million in credit insurance industry.

During the event, Raja Al Mazrouei released a comprehensive report for Etihad Credit, titled “Advancing the UAE’s Global Trade with Etihad Credit”, which presents the UAE’s economic progress and the changing dynamics of global trade over the past three decades. The report confirms that Etihad Export Credit plays a key role in the country’s economic diversification, and describes the UAE’s strategic transformation based on diversity, flexibility and innovation, its contributions to global trade, strong infrastructure and alignment. Standard procedures.

In addition, Raja Al Mazrouei announced the launch of Etihad Export Credit’s Green Credit Insurance product, designed to facilitate financing for exporters contributing to green change, climate change mitigation or adaptation efforts. The product will enable Emirati exporters to actively participate in environmentally friendly initiatives while positively contributing to the UAE’s sustainable development agenda.

Earlier, during its participation (COP28), Etihad Credit Company announced that it will join the recently established “United Nations Alliance of Climate Neutral Export Credit Agencies”, the world’s first alliance committed to climate neutrality involving public financial institutions. … focus on financing efforts to advance climate solutions and transition through Alliance members’ commitment to invest in green technologies, representing a key step in global efforts to achieve a net-zero economy by 2050.

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Bill Dittman
Bill Dittman
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