Montreal (Quebec), November 30, 2023 – A delegation from Canada's bilateral Development Finance Institution (DFI) will be taking an active part in COP 28, which runs from November 30 to December 12 in Dubai, United Arab Emirates.
Over 70,000 people are expected to attend the conference, including heads of state, government representatives, international business leaders, private sector representatives, experts and non-state actors.
Canada’s development finance institution will be part of the delegation representing the nation at COP 28. Chief Executive Officer, Lori Kerr, VP and Chief Investment Officer, Paulo Martelli and VP and Chief Strategy and Engagement Officer, David Bhamjee will represent FinDev Canada at COP 28 and participate in a series of panels, roundtables and discussions addressing mobilization of investments towards projects that support net-zero and nature-positive economic growth in developing countries.
To limit global warming to 1.5 degree Celsius as required on the Paris Agreement, all actors and sectors of the society need to collectively reach net zero emissions by 2050. "Development finance institutions are in a unique position to help mobilize private capital in support of climate action by bridging knowledge gaps and offering blended finance solutions that help mobilize private capital," Lori Kerr affirms.
"Climate change is more than just an environmental crisis. The effects of climate change are and will be felt across all segments of society and touched across the policy landscape: the economy, health, migration, infrastructure and, of course, development," she adds.
On finance, the public and private sector align on the importance of ensuring capital flows to where it is most needed. FinDev Canada is continuously working for opportunities to finance climate action in developing countries and to mobilize private sector investment to achieve this global goal.
FinDev Canada recognizes the urgency of the climate crisis the world is facing and is looking to contribute to climate action through its investments and partnerships. Enabling Climate action is a core corporate priority and an important pillar of FinDev Canada’s strategy.
No single solution or party can solve the climate change crisis. At FinDev Canada, we believe that a solid public-private partnership can help move the needle to tackle a crisis that goes beyond the environment and affects our economy, health and livelihood.
About FinDev Canada
FinDev Canada is Canada’s bilateral Development Finance Institution (DFI), supporting development through the private sector. We provide financing, investment, and blended finance solutions, as well as technical assistance and knowledge, to promote sustainable and inclusive growth in emerging markets and developing economies (EMDEs) aligned with the Sustainable Development Goals (SDGs) and Paris Agreement commitments. FinDev Canada is a wholly owned subsidiary of Export Development Canada (EDC). Find out more about FinDev Canada at www.findevcanada.ca.
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