Sunday 10 December 2023

Mohammed Alardhi

Investcorp announces COP28 sponsorship

MANAMA, September 13, 2023

Investcorp, a global leader in alternative investments, has announced its role as an Associate Pathway Partner to the COP28 taking place in Dubai from November 30 to December 12, 2023. 
Investcorp’s sponsorship aligns with the UAE’s commitment to make COP28 a turning point by bringing policymakers, climate experts, innovative businesses, and capital providers together to accelerate tangible solutions to address decarbonisation and the impacts of climate change. 
With a 40+ year track record of identifying, investing in, and scaling transformative businesses, Investcorp recognises the essential role that private capital and expertise must play as a catalyst to action and results.
Increasing risks
“Recent climate events and record temperatures around the world underscore the reality that we are facing increasing risks with limited time to act,” said Mohammed Alardhi, Executive Chairman of Investcorp. 
“COP28 has laid out its priorities, amongst which, delivering urgent action on climate finance from governments and the private sector is one of the most critical to changing course. We have an opportunity to come together at COP28 to make real progress, and the UAE’s ambitions mirror Investcorp’s dedication to bring our capital and business-building experience to the strategic investments and transformative projects that create solutions.”
Rishi Kapoor, Co-CEO of Investcorp, said: “COP28 will mark the first Global Stocktake of where the world stands in meeting the Paris Agreement climate goals, and we know that progress to-date is behind plan. Our sponsorship of COP28 demonstrates Investcorp’s support and commitment towards playing a leading role in the capital reallocation and new investments that rapid decarbonisation requires. We will be announcing additional major initiatives between now and November that will further underscore our commitment.”
Backing net zero GHG
Along with its sponsorship at COP28, Investcorp announced its support of net zero greenhouse gas (GHG) emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius (a copy of Investcorp’s net zero statement can be found here). 
This reaffirms a commitment the firm made earlier this year when it joined the Initiative Climate International (iCI), a private consortium of investors who have made a collective commitment to better understand and reduce carbon emissions of private markets-backed companies. 
In addition to iCI, Investcorp is a signatory of the United Nations Principles for Responsible Investment and the Abu Dhabi Sustainable Finance Declaration, a licensee of the Sustainability Accounting Standards Board standards, and a member of the ESG Data Convergence Initiative. Investcorp’s participation in these initiatives enhances the firm’s sustainability work for its own operations and with its investments.-- TradeArabia News Service


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