Participants in the third annual conference organised
by TRENDS Research and Advisory, in partnership with the Atlantic Council,
recommended "Sustainable Security.”
The two-day event, at COP28, created new financial
instruments to mobilise and channel private financing towards supporting the
most critical climate innovation and research, and support the comprehensive
implementation of the energy transition.
The conference's participants, a total of more than 20
political experts, academics, researchers and specialists in environment,
climate and security issues from around the world, stressed that the
establishment of climate finance mechanisms at the national level allows
governments to align public financing targets with climate finance.
They stressed the importance of maintaining the
momentum of the achievements made at COP28 by integrating climate goals into
national policies and allocating adequate financial resources.
The participants also called for accelerating
diplomatic efforts to address regional climate challenges and promote dialogue
and joint initiatives. They stressed the need to close the climate finance gap
with a focus on the importance of mobilising and directing private financing
towards supporting the comprehensive implementation of the energy transition.
They expected that green investment and resilient
international supply chains would be critical factors in the development of a
new climate economy. They also stressed the urgency that COP28 is a unique
opportunity to accelerate the engagement of think tanks on the significant
issue of strengthening the relationship between climate and security.
The conference's recommendations were reviewed by
Jonathan Panikov, Director of the Scowcroft Initiative for Middle East Security
at the Atlantic Council, and Awad Al Breiki, Head of TRENDS Global at TRENDS
Research and Advisory.
They included developing robust forecast systems to
identify the geographic areas most at risk in terms of climate impact, and
prioritising countries in need of assistance according to their risk profile.
Such systems should cover climate change in transboundary water agreements and
prioritise investments in capable infrastructure, to withstand the impacts of
rising sea levels and other climate-related risks in coastal areas.
In addition, the second and final day of the
TRENDS-Atlantic Council conference witnessed two panel discussions, the first
on "Green Economy and the Future of Climate Finance", and the second
on the topic of "Energy Transition and Net Zero Emissions".
The second day of the Conference began with an opening
address by Anne A. Witkowsky, US Assistant Secretary, Bureau of Conflict and
Stabilisation Operations, United States Department of State. The speaker
indicated that the large-scale climate crisis requires a paradigm shift. There
is an imperative need to expand partnerships to address the problems arising
out of climate change.
Then the first session of the second day began,
entitled “Green Economy and the Future of Climate Finance”, moderated by Moza
Al Marzouqi, Head of Economic Studies at TRENDS Centre. The discussion revolved
around fossil fuels, highly regarded as more profitable than green
alternatives, making coordinated intervention necessary at the present time to
close the climate finance gap and achieve economies of scale.
Ariel Ezrahi, nonresident senior fellow with the
Atlantic Council’s Middle East Programs; and director of climate strategy at
NewVest, spoke about "policies to promote green finance," saying that
private finance is the key to a successful energy transition. He stressed that
the UAE is an important and effective gateway to climate finance mobilisation.
Stephen Scalet, an economist at Trends Research
Advisory, addressed the issue of "supply chains in the new climate
economy, decarbonisation and the resilience challenge."
He explained that it is not limited to
decarbonisation, because it includes the electrification of the economy and
digital infrastructure. The supply chain is an important factor in the new
climate economy, especially critical minerals and metals. The establishment of
strategic partnerships is imperative, and the Group of Seven has engaged in
metal partnerships, but recycling and technological innovation are also
important in this regard.
May Alhajeri, Strategic Partnerships Officer at Abu
Dhabi Investment Office, and Former Youth Delegate to the United Nations,
addressed “Green Investment and the Future Climate Economy.”
She stressed that the UAE's approach to climate change
is ambitious, diverse and forward-looking. The speaker explained that the
unique factor is the UAE's establishment of a fund of $30 billion, which is
transparent and ambitious. The money will also help create jobs and improve the
quality of life, stressing that the transition to green investment is not easy,
and will require huge change in the entrenched mindset.
The speakers in the second session "Energy
Transition and Net Zero Emissions" reviewed the mechanisms for achieving
global climate goals. The session was moderated by Dr. Waddah Ghanem AlHashmi,
Honorary Chairman of the Energy Institute (EI) Middle East. Iris Ferguson,
Deputy Assistant Secretary of Defense for Arctic Affairs and Global Resilience,
explained the US security perspective on the challenges and opportunities
associated with the energy transition.
He indicated the importance of adopting a
multisectoral approach to security issues. He added that the US Department of
Defense is part of the comprehensive government approach to address
climate-related issues.
Dr. Ravi I. Chaudhary, Assistant Secretary of the Air
Force for Energy, Installations, and Environment, United States, addressed the
issue of how the US is partnering with other entities — including other
governments, the private sector, and local communities — to advance and
capitalise on the energy transition, particularly with regard to energy
efficiency and low-carbon technologies. He said we should raise the slogan that
we will not act as fast as governments, we should act as fast as the climate threat,
in order to protect global security.
Faisal Ali Rashid, Director of the Demand Side
Department at the Supreme Council of Energy in the Government of Dubai and head
of the volunteering team to drive the transition towards net-zero emissions,
explained that the journey to climate neutrality is not as easy as it seems at
first glance.
He addressed the transition to clean energy in the
private sector and government entities and the path to net-zero emissions by
2050. He explained that from an engineering perspective, even if we reach 100%
electrification of vehicles, this will still not be enough to achieve Climate
neutrality.
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