Page 7 - KZN Business Sense 10.1 Page One Shaaz Moosa - CEO Supahot- Ebook

CHAMPIONING THE CLIMATE FDI COALITION

nvest Durban is thrilled to ■ Support the reduction of
announce their participation greenhouse gases (ghg) through
Ias one of the 14 signatories more efficient energy
at the World Economic Forum technologies
FDI Coalition, representing a ■ Are designed to improve the
collective of over 300 million resilience of infrastructure
citizens. Together, they’re to adapt to the effects of climate
championing the establishment of change.
a Climate FDI Coalition, a crucial
initiative endorsed by leaders Signatories are also encouraged
from 14 investment agencies and to exchange notes with each other
organisations. on how best to track and monitor
climate FDI, since doing so can
‘Climate FDI’ refers to foreign help countries align their incentives
direct investment (FDI) that and flanking strategies to make the
contributes to countries’ climate- most of new investments.
aligned growth objectives.
Russell Curtis, CE of Invest
The world needs to grow Durban concludes, “Durban has
climate smart FDI. The a number of multi billion rand,
Intergovernmental Panel on carbon reducing, carbon smart
Climate Change’s (IPCC) FDI projects in hand already. We
Synthesis Report on climate look forward to this expanded
change from March 20233 partnership with the WEF, plus
shows that humanity is still not challenges, and investment Further to this goal, public- up approach to FDI facilitation, local business leadership, to get
on track to limit temperature authorities are poised to play a private collaboration will be an will enhance the effectiveness
increase to 1.5˚C above pre- pivotal role in bridging this gap. integral part of this process. of these efforts. these projects over the line.” 
industrial levels. Drawing on the expertise of the
Through the Coalition, Invest According to the World
This groundbreaking proposal, Durban aims to share best private sector will enable Invest Economic Forum’s recently W: www.invest.durban
unveiled at the #WEF24 Annual practices, offer mutual support, and Durban to improve regulatory published Guidebook on
and policy frameworks and
Meeting, seeks to address the foster collaboration at a regional Facilitating Climate FDI the
climate finance gap by fostering level. Together with investors, deliver more attractive, viable investment projects required are
collaboration among investment they can explore and facilitate and inclusive climate FDI those that are:
projects. Beyond that, buy-in
promotion agencies. Capital green investment opportunities, ■ Zero or low carbon in nature
availability is paramount in contributing to climate-aligned from key public and private ■ Aim to reduce the carbon
tackling current environmental growth and development. actors, and adopting a joined footprint of a firm

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