24 Hrs
Source:
وكالة الأنباء القطرية
Finance Minister Highlights Climate Funding Growth
Qatar's Minister of Finance, Ali bin Ahmed Al Kuwari, discussed the importance of transforming political commitments into tangible investments to achieve sustainable economic growth through climate finance. He emphasized the necessity of meeting the global financing needs, which exceed 6 trillion dollars annually by 2028. He pointed out that current funding, which amounts to around two trillion dollars—with the private sector's share not exceeding 40 billion dollars—is insufficient to bridge the financing gap. He noted that multilateral development banks registered a record climate finance amount of 137 billion dollars in 2024. He called for enhanced cooperation between governments, development banks, and the private sector, along with improving legislative frameworks and reducing risks, to support the transition toward a more sustainable economy. This includes focusing on climate projects such as renewable energy and emission reductions. Furthermore, leaders of the Asian Infrastructure Investment Bank reviewed successful international experiences, stressing that the success of climate finance requires an attractive and reliable investment environment. They emphasized the need to remove structural barriers and support institutional reforms to increase the private sector's responsiveness to sustainable investments.
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