Press Release
GLOBAL CENTRE LAUNCHED TO ACCELERATE CLIMATE FINANCE
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- Pioneering new Global Climate Finance Centre in Abu Dhabi to accelerate global climate finance and market design, delivering COP28 legacy
- New knowledge hub to house world-leading research, advisory and skills academy to pioneer new forms of climate finance and establish Abu Dhabi as a leading global marketplace
- Nine global founding members confirm membership including ADGM, ADQ, BlackRock, CIFF, GFANZ, HSBC, Masdar, Ninety One, and the World Bank Group
DUBAI, UAE, Dec. 4, 2023 /PRNewswire/ — Abu Dhabi will host a pioneering Global Climate Finance Centre (GCFC), that will accelerate the development of climate finance frameworks and skills, and champion best practices in the UAE and globally. The GCFC aims to address key barriers linked to financial frameworks that hinder investment flows, to help make climate finance available, affordable, and accessible as a COP28 legacy for action.
As an independent think-tank and research hub, the GCFC aims to address the root causes currently preventing investment, bringing together cutting-edge research and leading experts to develop fit-for-purpose financial frameworks that are increasingly aligned internationally. By working with stakeholders across sectors, the GCFC will help to create the enabling environment for investment into low-carbon, sustainable and resilient projects.
The GCFC, head-quartered in Abu Dhabi Global Market (ADGM), was first announced by Dr. Sultan Al Jaber, COP28 President during the Finance Session panel on 1st December. Today, the Chairman of Abu Dhabi Global Market (ADGM) and Abu Dhabi Department of Economic Development (ADDED) H.E. Ahmed Jasim Al Zaabi, addressed the Abu Dhabi Sustainability Week (ADSW) Summit, part of the Special Edition of ADSW at COP28, where he gave more details of the GCFC’s three core functions:
- Research, Policy and Innovation: As an independent and private-sector-focused global climate finance think-tank, the GCFC will conduct cutting-edge research and share best practices, principles and solutions to align frameworks and build financial markets, enabling greater investment to flow into low-carbon and sustainable investments.
- Advisory and stakeholder engagement: The GCFC will convene private and public stakeholders who are directly facing impediments to develop recommendations and actions that are targeted to deploy funds and incentivize the creation of strong pipelines of bankable investment opportunities. Coalitions and partnerships of relevant actors will be at the core of the GCFC’s work.
- Climate Finance Academy: The GCFC will first and foremost develop a strong knowledge basis on the back of the Abu Dhabi experience on green finance markets, including providing training modules and tailored courses to build expertise and capacity in the UAE. This will establish the Academy as a global thought leader, in turn, opening opportunities to engage with other jurisdictions in supporting the development of tailored financial frameworks well aligned with Abu Dhabi.
Together these initiatives will build capacity in UAE and global financial institutions; scale up green finance market activity and ecosystems; and catalyze international investment into low and zero-carbon initiatives.
The announcement of the GCFC coincides with another landmark climate finance development, the launch of ALTÉRRA, a US$30 billion catalytic climate vehicle that will drive forward international efforts to create a fairer climate finance system with an emphasis on improving access to funding for the Global South. ALTÉRRA will aim to mobilize US$250 billion globally by 2030, steering private markets towards climate investments with a focus on transforming emerging markets and developing economies where traditional investment has lacked due to the higher perceived risks across those geographies. By supporting the creation of climate financial markets, the GCFC will help enable ALTÉRRA to build a climate finance ecosystem in Abu Dhabi and unlock funds into climate investments around the world at a transformational scale.
Commenting on the creation of the GCFC, Dr. Sultan Al Jaber said: “The scale of the climate crisis demands urgent and game-changing solutions from every industry. Finance plays a critical role in turning our ambitions into action and is essential to eliminating emissions and keeping 1.5C within reach. COP28 must be an inflection point as we unite the world on how we bridge the gaps to 2030 identified in the Global Stocktake. To do this, we need an all-of-the-above approach that includes everyone because everyone is needed. That is why I greatly welcome this new Global Climate Finance Centre which will catalyze the transformation of UAE financial markets and institutions towards a greener and more sustainable future. It will put Abu Dhabi and the UAE at the forefront of driving global change in sustainable finance, providing a positive legacy for years to come.”
H.E. Ahmed Jasim Al Zaabi commented at ADSW: “Abu Dhabi knows how to deliver rapid progress, which is increasingly critical as we respond to global economic and environmental challenges. Just as we have built ADGM as a pioneering International Financial Centre in just eight years, it is now time for Abu Dhabi to build a new pioneer for global climate finance. This new GCFC will unlock new capital flows into the region as the Emirate becomes a key marketplace for sustainable finance, building upon ADGM’s progressive Sustainable Finance Regulatory Framework. Our ambition is for the benefits of this world-leading facility to touch every corner of our planet.”
The GCFC is a global institution. In addition to ADGM, the other Founding Members of the GCFC are ADQ, BlackRock, Children’s Investment Fund Foundation (CIFF), Glasgow Financial Alliance for Net Zero (GFANZ), HSBC, Masdar, Ninety One, and the World Bank Group. The Founding Members will provide strategic direction to the GCFC, drawing on their deep expertise, experience, and networks. The GCFC will seek to work with peer institutions and knowledge partners to build on sustainable finance leadership, develop expertise in-house and deliver maximum impact.
H.E. Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, said: “As we work to accelerate economic transformation and sustainable growth, it is vital that we support innovation in sustainable finance. As a founding member of the GCFC, ADQ is committed to helping deliver lasting impact that will also increase the diversification of the Abu Dhabi economy and strengthen its growing sustainable finance sector.”
Larry Fink, Chairman and CEO of BlackRock, said: “BlackRock is delighted to participate in the launch of the GCFC. The future focus of the think tank speaks directly to a number of areas of interest for many of our clients around the world, as they seek the best data, analytics and insights to navigate the risks and capture the investment opportunities of the transition to a low-carbon economy. As we do with many think tanks and organizations around the world, we look forward to contributing our insights and research to the GCFC.”
Kate Hampton, Chief Executive Officer of CIFF, said: “Scaling high-quality, low-cost climate finance for developing countries is essential to keep 1.5 degrees alive and to enable long-term, green, and resilient growth. CIFF is pleased to be partnering with the Global Climate Finance Centre, which can bring transparency and ambition to investors’ transition finance targets and delivery and align that capital with NDCs.”
Mark Carney, UN Special Envoy for Climate Action and Finance and Co-Chair, Glasgow Financial Alliance for Net Zero (GFANZ), said, “Innovation is needed to accelerate the flow of climate finance and build a bridge to a more prosperous future. GFANZ is looking forward to supporting the Global Climate Finance Centre, to close the gaps in data, action, and investment we must address to achieve the goals of the Paris Agreement. We applaud the UAE’s leadership in tackling the most pressing and difficult challenges and look forward to working together on our shared mission to scale transition finance and mobilize capital to the global south.”
Noel Quinn, Group Chief Executive at HSBC, said: “For the world to achieve its climate goals, it is absolutely critical that thinking continues to evolve, markets continue to develop, and countries continue to collaborate. HSBC is pleased to be a founding member of the Global Climate Finance Centre, which underlines the COP28 Presidency’s commitment to making this a COP of action while putting in place the tools needed to help deliver a net zero future.”
Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said: “We welcome this important initiative, and Abu Dhabi is the perfect location to host the Global Climate Finance Center. Masdar looks forward to supporting this independent think-tank through our rich experience and pioneering legacy in financing and developing clean energy projects across the globe.”
Hendrik du Toit, Founder and Chief Executive Officer of Ninety One, said: “Ninety One looks forward to supporting the GCFC in partnership with the UAE. Climate finance is a vital part of the battle against climate change. This launch represents decisive, ambitious action.”
Ajay Banga, President of the World Bank Group, said: “We need the resources and ingenuity of the private sector, we need all shoulders to the wheel. This partnership embodies that cooperation, helping scale up solutions for low-carbon, climate-smart investments.”
The GCFC will be led by Mercedes Vela Monserrate as its Chief Executive Officer. Being the sustainability lead for ADGM and a key advisor to COP28, Monserrate brings a wealth of experience and expertise to lead the centre in its mission to drive global change in sustainable finance.
Mercedes Vela Monserrate said, “I am honoured to lead the Global Climate Finance Centre and contribute to the transformation of financial markets towards a greener and more sustainable future. Together with our global partners, we aim to create a positive legacy by making climate finance more accessible and facilitating the transition to a low-carbon economy.”
The GCFC website also launched today: www.gcfc.com.
The UAE has the capital, the capability and the ambition to serve as a global climate finance hub. In July 2023 ADGM implemented its Sustainable Finance Regulatory Framework, comprising the region’s most comprehensive ESG disclosure requirements and a regulatory framework for finds, discretionary managed portfolio, bonds and sukuks designed to accelerate the transition of the UAE to net zero greenhouse gas emissions.
The GCFC also builds upon ADGM initiatives such as the Abu Dhabi Sustainable Finance Declaration which has nearly 120 signatories, and the School of Sustainable Finance at the ADGM Academy. The GCFC will champion the accelerated growth of green finance in the region, with a focus on capital markets, and will build on the momentum created by COP28 in establishing ADGM as a strategic leader of sustainable finance.
ADSW is a global platform and event delivered by Masdar, which brings together heads of state, policymakers, industry leaders, investors, entrepreneurs, and youth, who all have a stake in the future of our planet, to discuss and engage on bold climate action and innovations that will ensure the next generation a sustainable world.
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Press Release
New Study Reveals Majority of Indians Prioritize Nutrition Over Taste, Surpassing Global Average
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Based on a recent survey of urban Indian consumers:
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Nine out of 10 consumers are searching for protein-rich food compared to seven out of 10 global shoppers. -
The top four qualities consumers look for when buying snacks are (1) natural, (2) heart-healthy, (3) protein-rich and (4) energy-source, all of which come before satisfying cravings. -
Nuts have emerged as one of the most popular snacking choices, with 86% of Indian shoppers report having purchased them in a span of 6 months. -
Urban Indians read nutrition labels more than the global average, reflecting a growing trend towards informed purchasing. -
69% of urban dwellers surveyed have the opinion that plant-based protein is just as good as meat-based protein, exceeding the global average of 55%.
Wonderful Pistachios, the world’s largest grower and processor of pistachios and distributor of California Pistachios in India, released today, World Nutrition Day, the findings of a new global study that sheds light on the snacking habits of urban Indians. The study, commissioned with Material, a leading global research consultancy, included 10 countries and over 12,400 respondents, revealed a new behavioural trend that urban Indian consumers prioritize nutrition over taste when it comes to snacking. This growing preference for healthy snacking emphasizes the importance of good nutrition for overall well-being.
For the India market specifically, the study delved into the snacking habits of 2,415 shoppers across six Indian cities, which represented a population of approximately 35.9 million consumers. Remarkably, a majority of urban Indians (58%) reported basing their food purchasing decisions on nutritional benefits more than taste, exceeding the global average of 52%. Delhi and Ahmedabad lead with over 60% of urban shoppers preferring nutrition in their food. Bengaluru and Chennai follow closely, indicating a nationwide shift towards smarter snacking preferences. In India, Millennials and Gen Z are leading the charge in health-conscious purchasing decisions, with more than 83% of consumers in these age groups reading nutritional labels before buying.
Indian consumers prioritize four key factors when shopping for nutritional snacks: natural (free of artificial colours and preservatives), heart-healthy, protein-rich, and provides energy. Nine out of 10 urban shoppers consciously seek protein-rich food options, compared to the global average of seven out of 10. The focus on nutrition has fueled the rise of nuts as a preferred snack choice, becoming essential to daily eating habits. The study found a staggering consumption of nuts, with 86% of Indian shoppers report purchasing them in a span of 6 months, compared to just 75% globally. With 6g of protein in per 28g serving, California Pistachios are a smart snack choice that provides benefits without sacrificing taste.
Shail Pancholi, Country Director, India, Wonderful Pistachios, commented on the study, saying, “Nuts were traditionally used as garnishes and consumed during festivals, but have now become a popular snack in India, indicating a notable shift in dietary habits. Pistachio consumption in India has doubled in the last six years, as consumer awareness of the nutritional benefits that pistachios offer has grown. Consumers are discovering that pistachios are naturally cholesterol-free, rich in plant-based protein and dietary fiber, and provide over 30 different vitamins and minerals.”
Interestingly, the study found that nuts are the second most preferred snack among urban Indian consumers, with 64% of Baby Boomers and 59% of Gen Z prioritizing nutrition over taste when selecting food. This indicates a growing focus on health across generations, with Baby Boomers focusing on senior wellness and Gen Z reflecting the rise of mindful purchasing. Though on opposite ends of the age spectrum, these two generations take the lead in seeking protein-rich options, as well as preferring natural snacks.
Mumbai tops most of the consideration sets when choosing a snack. Residents opt for natural ingredients (35% vs. the national average of 30%), heart-healthy options (33% vs. 30%), and protein (33% vs. 29%). Chennai residents look for energy-boosting snacks (31% vs. the national average of 29%).
The fact that 69% of urban Indians surveyed have the opinion that that plant-based protein is just as good as meat-based protein reflects a positive shift towards varied dietary preferences. Pistachios are a good source of high-quality complete protein, containing all nine essential amino acids. A 28g serving of pistachios provides 6g of protein, which is 11% of the recommended daily allowance (RDA) according to FSSAI.
The Wonderful Pistachios study unveils a compelling shift in Indian snacking habits. Nuts are evolving from festive treats to a daily snacking staple, fueled by a nationwide preference for more nutritious options. The trend transcends generations, resonating with Gen Z and Baby Boomers alike, underscoring the growing importance of mindful eating in urban India. As consumers increasingly seek natural, heart-healthy, protein-rich, and energy-boosting snacks, the future of Indian snacking appears to be firmly rooted in nutrition and well-being.
Wonderful Pistachios
Wonderful® Pistachios is the world’s largest grower and processor of pistachios, with a global presence in over 70 countries. As a vertically integrated operation, they are experts in every step of the process from tree to shelf, ensuring the highest-quality product every time. In tandem with its Grower Partners, Wonderful Pistachios harvests 125,000 sunny acres (50,000 hectares) of land in California that receive warm days and cool nights, which work in harmony with the rich, natural soils to create the perfect growing climate for high-quality pistachios. They ship 600 million pounds (204 million kg) of nuts worldwide from their advanced processing facilities to ensure the highest standards are met. When it comes to pistachios, Wonderful® Pistachios expertise is unmatched in scale and capacity, paired with warehouses and sales teams worldwide that are well-equipped to provide support at every step of the way.
California Pistachios
California Pistachios are grown and distributed by The Wonderful Company, the world’s largest vertically integrated pistachio processor and marketer located in California’s Central Valley. California Pistachios are Non-GMO, providing a smart, healthy choice for consumers around the world. Sun-ripened in the moderate Mediterranean climate of California, these distinctively green nuts pack taste and contain antioxidants and over 30 different nutrients. California Pistachios in India are available under leading brands and private labels at retail outlets, grocery stores, and online platforms.
For more information about California Pistachios India, please visit www.b2b.wonderfulpistachios.com
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SINGAPORE, May 31, 2024 /PRNewswire/ — Senior Minister of State for Communications and Information Tan Kiat How launched the Digital Enterprise Blueprint (DEB) at Asia Tech x Singapore (ATxSG) 2024 today. The Blueprint will enable SMEs to harness technology, optimise the way they work, and strengthen digital resilience and cybersecurity across the ecosystem. 50,000 SMEs are expected to benefit over the next five years through four key focus areas:
- Empower enterprises to be smarter by adopting AI-enabled solutions
- Enable enterprises to scale faster through cloud-based and integrated solutions
- Equip enterprises to be safer through improved cyber resilience
- Support enterprises to upskill workers to make full use of digital capabilities
Seven partners have come onboard to pledge their commitment, including Singapore Business Federation, Singapore Computer Society, SGTech, Amazon Web Services, Google, Microsoft and Salesforce.
In collaboration with IMDA and the TechSkills Accelerator for ITE and Polytechnics Alliance, SGTech is launching the Tech Apprenticeship Programme to expand the career pathways of graduates by providing access to industry apprenticeships that offer on-the-job training and development opportunities. Over the next two and a half years, SGTech aims to facilitate the placement of at least 300 apprentices who are fresh or mid-career professionals from polytechnic or ITE backgrounds, and drive the adoption of similar practices that promote more inclusive hiring and career agility.
IMDA and the Singapore Academy of Law (SAL) signed an MoU aimed at uplifting the legal sector’s productivity through the use of GenAI. As part of this partnership, GPT-Legal, a new large language model which is contextualised for Singapore’s legal sector, will be co-developed. The model will be integrated into SAL’s research platform LawNet, which is accessible by 75% of Singapore’s lawyers. SAL will also be penning an MoU with the National University of Singapore and AI Singapore to develop its AI capabilities and create a certification to recognise AI specialists in the legal profession.
Additionally, Tribe and Digital Industry Singapore announced a collaboration with NVIDIA to launch the Ignition AI Accelerator for AI startups to create and bring to market the next wave of advancement in AI solutions. This programme will nurture 15 high-potential startups, equipping them with well-rounded support covering business and technical needs. NVIDIA and Tribe will also collaborate with EnterpriseSG to offer qualified AI startups funding support through the Startup SG Tech scheme, and assist them through the IMDA Accreditation process.
Singapore hosted the final meeting of the UN Secretary-General’s Artificial Intelligence Advisory Body (AIAB) from 28-29 May. As part of the agenda, Singapore facilitated an engagement session between AIAB and the Digital Forum of Small States (Digital FOSS). Digital FOSS Fellows exchanged views with AIAB members on the topic of AI governance, particularly on the implications and challenges faced by small states. Through such efforts, Singapore aims to promote a more inclusive approach towards shaping global AI and digital governance.
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SHENZHEN, China, May 31, 2024 /PRNewswire/ — By 2040, the burden of colorectal cancer (CRC) is projected to increase to 3.2 million new cases and 1.6 million deaths per year representing a 66% and 71% rise in new cases and deaths respectively relative to 2020.
To better address the global burden of CRC and reduce its impact, BGI Genomics has launched the second edition of its global CRC awareness report, covering 1,938 respondents from Brazil (306), China (367), Poland (300), Saudi Arabia (300), Thailand (362), and Uruguay (303):
CRC Screening Gaps Vary Globally: Nearly half (49.3%) of global respondents have never undergone CRC screening, with the highest proportions in Saudi Arabia (62.0%) and Poland (61.0%).
Preference for Fecal Testing Over Colonoscopy: Although colonoscopies are more recognized (33.4%), fecal tests at healthcare facilities are preferred (31.8%), reflecting a trend towards non-invasive methods.
Cost and Fear are Determinants of Screening Choice: Fear of colonoscopy (18.2%) and screening costs (17.7%) are major barriers to CRC screening. Poland (24.7%) and Uruguay (21.0%) show the highest fear of colonoscopy, while Thailand (24.5%) and Brazil (20%) indicate the most concern about costs.
Medical Advice and Family History Drive CRC Screening: Doctor’s recommendations are a major driver for CRC screening (30.5% globally), with Uruguay showing the highest adherence (44.1%). Additionally, those with a family history of CRC are more proactive in screening (64.5%), compared to the general population (35.0%).
Prof. Varut Lohsiriwat from Mahidol University offers his insights to this report. He suggested: “The essence of effective cancer screening lies in the acceptance and adherence of the patient to the screening method. The best screening method is the one that the patient accepts and adheres to because that’s the method that will actually benefit them.”
Dr. Zhu Shida, BGI Genomics Deputy GM, notes: “At BGI Genomics, we focused our efforts on developing advanced molecular biology testing techniques to close the gap [between acceptance and accessibility]. The ultimate goal is to transform colorectal cancer from a life-threatening disease into a manageable condition through widespread, early screening and intervention.”
For more region-level comparisons, access the full BGI Genomics 2024 State of CRC Awareness Report.
All data involved in this report come from the results of an online survey project conducted by BGI Genomics. It only surveys awareness related to colorectal cancer and does not involve personally identifiable data.
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New Study Reveals Majority of Indians Prioritize Nutrition Over Taste, Surpassing Global Average
Singapore Prepares Ahead to Leverage Artificial Intelligence for a Better Future
One in Six Globally Concerned About Colorectal Cancer Screening Costs
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