Panellists highlighted the importance of tackling high-borrowing costs and regulatory uncertainty
The inaugural Finance & Investment Conference at ADIPEC 2024 concluded recently with an emphasis on the necessity of accessible, available and affordable capital to accelerate a secure, equitable and sustainable energy transition.
The conference provided a vital platform for multilateral stakeholders from the Global North and South, including top financiers, policymakers, and energy executives, to unite and explore sustainable and innovative finance structures critical for a pragmatic and inclusive energy future.
While collaborative initiatives like the UAE Leaders’ Declaration on a Global Climate Finance Framework seek to mobilise capital and reduce investment risk, challenges remain, such as high borrowing costs, investment risks, lack of creditworthy off-takers, and regulatory uncertainty in developing economies.
Bilateral climate finance
“We are currently largely relying on bilateral climate finance; however, philanthropy is increasingly becoming a new player in the game,” commented Gurbuz Gonul, Director, Country Engagement and Partnerships, IRENA.
Elsewhere at the conference, senior executives from Bank of America, Abu Dhabi Investment Authority, OMV and Fertigro, convened for a critical panel session titled ‘Bridging the gap: energy and financial cross-sector collaboration to advance new projects’.
“Compliance with the ESG environment rules and employment is also important. Whatever we do, we need to do it sustainably,” remarked Massimo Falcioni, Chief Competitiveness Officer, Abu Dhabi Investment Authority.
