By Abimbola Abdullahi

The United Nations Conference on Trade and Development (UNCTAD) will hold the World Investment Forum 2023 to rally investments for climate action, clean energy, health care, food security and other development needs.

Heads of state, more than 50 government ministers, over 150 CEOs of leading companies and stock exchanges, and thousands of investment stakeholders – from sovereign wealth fund managers and investment treaty negotiators to heads of international organizations – will participate in more than 130 events co-organized with over 80 partners.

Identifying a $2.2 trillion annual gap for energy transition in developing countries, UNCTAD said the participants would agree on actions to boost clean energy investments in developing countries, which face an investment gap of $2.2 trillion annually for the transition to low-carbon energy.

According to world investment report, about $450 billion is estimatedly needed annually for health and food.

The forum will also explore opportunities to boost investment in health care. Developing countries alone need at least $100 billion in additional investment in health-care facilities and infrastructure each year.

Countries need up to $350 billion annually for the next decade to transform agrifood systems, which can also help tackle climate change and biodiversity loss.

UNCTAD Secretary-General Rebeca Grynspan said: “As the world faces multiple crises, we urgently need investment stakeholders worldwide to ignite action, unlock more funds and channel them to vital sectors key to reducing the effects of these crises,”

According to UNCTAD’s World Investment Report 2023, overlapping crises such as the war in Ukraine, high food and energy prices and debt pressures led to a 12% decline in global foreign direct investment in 2022.

Dr. Thani Al Zeyoudi, minister of state for foreign trade in the United Arab Emirates (UAE), said UNCTAD can play a major role in addressing and ultimately mitigating these interlocking issues.

“It is an undeniably challenging moment for the global economy, and for the economies of the Global South in particular. As we confront the triple shocks of inflation, geopolitical uncertainty and climate change, balancing prosperity and sustainability requires a combination of innovation, investment and, perhaps above all, will,” Dr. Al Zeyoudi said.

He added that the forum provides an opportune moment for the global investment community, supported by policymakers and institutions, to mobilize and direct capital to projects that can fast-track environmentally responsible and socially beneficial development.

“As a consistent advocate for both equitable, inclusive growth and trade’s role in driving it, the UAE is eager to contribute to a solutions-oriented forum that can begin to write a positive new chapter for the world,” he said.

Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development and Abu Dhabi Global Market (ADGM), said: “Abu Dhabi is taking a leading role in defining the new architecture for climate finance, through concrete actions including its recently released comprehensive regulatory framework for sustainable finance that rivals global standards.”

By setting stringent requirements for sustainability-focused products and services, he added, the international financial centre of Abu Dhabi (ADGM) is putting in place a progressive framework that drives capital towards projects, advancing climate transition for a net-zero future.

Mr. Al Zaabi added: “We look forward to welcoming global leaders, entrepreneurs, investors, and government representatives to the ‘Capital of Capital’, and we are confident that our collaboration will result in tangible outcomes that will benefit the global economy by supporting inclusive and advanced flow of trade and creating new opportunities for business owners and investors.”

By Abimbola Abdullahi

The United Nations Conference on Trade and Development (UNCTAD) will hold the World Investment Forum 2023 to rally investments for climate action, clean energy, health care, food security and other development needs.

Heads of state, more than 50 government ministers, over 150 CEOs of leading companies and stock exchanges, and thousands of investment stakeholders – from sovereign wealth fund managers and investment treaty negotiators to heads of international organizations – will participate in more than 130 events co-organized with over 80 partners.

Identifying a $2.2 trillion annual gap for energy transition in developing countries, UNCTAD said the participants would agree on actions to boost clean energy investments in developing countries, which face an investment gap of $2.2 trillion annually for the transition to low-carbon energy.

According to world investment report, about $450 billion is estimatedly needed annually for health and food.

The forum will also explore opportunities to boost investment in health care. Developing countries alone need at least $100 billion in additional investment in health-care facilities and infrastructure each year.

Countries need up to $350 billion annually for the next decade to transform agrifood systems, which can also help tackle climate change and biodiversity loss.

UNCTAD Secretary-General Rebeca Grynspan said: “As the world faces multiple crises, we urgently need investment stakeholders worldwide to ignite action, unlock more funds and channel them to vital sectors key to reducing the effects of these crises,”

According to UNCTAD’s World Investment Report 2023, overlapping crises such as the war in Ukraine, high food and energy prices and debt pressures led to a 12% decline in global foreign direct investment in 2022.

Dr. Thani Al Zeyoudi, minister of state for foreign trade in the United Arab Emirates (UAE), said UNCTAD can play a major role in addressing and ultimately mitigating these interlocking issues.

“It is an undeniably challenging moment for the global economy, and for the economies of the Global South in particular. As we confront the triple shocks of inflation, geopolitical uncertainty and climate change, balancing prosperity and sustainability requires a combination of innovation, investment and, perhaps above all, will,” Dr. Al Zeyoudi said.

He added that the forum provides an opportune moment for the global investment community, supported by policymakers and institutions, to mobilize and direct capital to projects that can fast-track environmentally responsible and socially beneficial development.

“As a consistent advocate for both equitable, inclusive growth and trade’s role in driving it, the UAE is eager to contribute to a solutions-oriented forum that can begin to write a positive new chapter for the world,” he said.

Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development and Abu Dhabi Global Market (ADGM), said: “Abu Dhabi is taking a leading role in defining the new architecture for climate finance, through concrete actions including its recently released comprehensive regulatory framework for sustainable finance that rivals global standards.”

By setting stringent requirements for sustainability-focused products and services, he added, the international financial centre of Abu Dhabi (ADGM) is putting in place a progressive framework that drives capital towards projects, advancing climate transition for a net-zero future.

Mr. Al Zaabi added: “We look forward to welcoming global leaders, entrepreneurs, investors, and government representatives to the ‘Capital of Capital’, and we are confident that our collaboration will result in tangible outcomes that will benefit the global economy by supporting inclusive and advanced flow of trade and creating new opportunities for business owners and investors.”