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Blended finance critical to fight climate change

Addressing the NECMA conference, Sheikha Shamma bint Sultan urged nations around the world to work together 

Blended finance critical to fight climate change
[Source photo: Anvita Gupta/Fast Company Middle East]

The global issue of climate change and the increased frequency of natural disasters like floods, cyclones, and droughts affect all countries. These disasters cause loss of life and property and force several people out of their homes, leaving them penniless and distraught. 

In such a scenario, combining private and government funds to ensure the world is better prepared for the problems of the future is critical.

Addressing the National Emergency Crisis and Disasters Management Authority (NECMA) conference in Abu Dhabi on Wednesday, Sheikha Shamma bint Sultan, President and CEO of the UAE Independent Climate Change Accelerators, urged countries to work together to fight climate change and global warming. She called for merging public and private sector funds to find solutions and prepare for future emergencies. 

“By merging private capital with development funding, blended finance structures allow stakeholders to re-risk their investments while still investing with purpose,” she said, asking for cooperation among countries to fight pandemics and disasters fuelled by climate change in the future. 

Speaking of the effect of global warming in the UAE, she pointed to the 2022 floods that submerged the Northern side of the nation, causing great damage. “We need to look no further than our neighboring nations to see the devastating effects of cyclones in Oman and mass floods in Pakistan,” she said. 

“It’s important to recognize that the responsibility of building resilience lies not with one country or nation, but with all of us, as stewards of our planet,” she said.

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