Global experts discussed, in a session titled “Growth Opportunities in Times of Decarbonization”,diversification and innovation, economic growth and job creation for a healthier climate, at the Investopia Conference 2023, held on 2 -3 March in Abu Dhabi.
The discussion led by Mrs. LieveMostrey, Chairperson and CEO, Euroclear; and Mr. Sanjeev Gupta, Executive Chairman, GFG Alliance, touched upon how transition to net-zero emissions will be slow due to fast-growing emerging markets. The challenge of achieving net-zero emissions by 2050 is a topic of great importance leading up to COP28. The discussion often focuses on what this means for consumers and industries, but it is equally important to consider how we can accelerate the pace of decarbonization.
The panellists as well focused on the key challenge in finding ways to clean up production processes for industries like steel and aluminium. There is currently a lot of investment in hydrogen, particularly in the building sector.
During the panel discussion,LieveMostrey highlighted that Euroclear is a financial market infrastructure with 36T EUR worth of securities on their books and annual transactions over a quadrillion Euros, which connects people and companies in need of funding with international investors. They are able to accelerate foreign direct investment at a cheaper cost and provide ESG data to investment funds to support investments in the ESG space. Mostrey pointed out that Euroclear can contribute to funding cycles that accelerate the transition and facilitate between western and developing markets, especially green issuance, in a leaner, more certain, and safer way. This can help address the needs of developing countries, including the need for a 100B USD lost and damage fund to accelerate the transition, particularly in Africa.
Sanjeev Gupta discussed the challenges in the steel industry due to its high carbon emissions. With India’s population continuing to grow, there will be an explosion of demand for steel, further adding to global emissions. Gupta emphasized the need for a solution, such as shifting from coal to natural gas and hydrogen.
In conclusion, LieveMostrey and Sanjeev Gupta expressed their commitment to contributing to the decarbonization efforts required for a sustainable future. They highlighted the need for international funding and legal ownership of investment structures to mobilize the required resources. Mostrey emphasized the importance of these aspects in the upcoming COP28 discussion, while, Gupta proposed the creation of a hub for green hydrogen and green ion, leveraging the unlimited natural source of solar energy to inspire India to take its green ion supply from there.
Investopia conference 2023 focused on the theme “Envisioning Opportunities in Times of Change” and three sub-themes: Envisioning Opportunities in Today’s Economy, The Future of the Wealth of Nations, and Growth Opportunities in Times of Decarbonization. The conference this year included35 sessions and roundtables, and brought together together more than 2000 participants like investors, government officials, thought leaders and entrepreneurs, from more than 40 countries.
For detailed information about the conference agenda, kindly visit this website:
https://investopia.ae/events/investopia-2023-event