Saudi Fund for Development and UNDP Hold Joint Workshop on Climate Change
The Saudi Fund for Development (SFD) and the United Nations Development Program (UNDP) held a joint workshop on climate change at the SFD headquarters in Riyadh.
The workshop's objectives included knowledge and information exchange, alongside the sharing of expertise in global development. Additionally, it aimed to strengthen international development cooperation and engagement between both parties.
During the workshop, international plans related to combatting climate change, and the most effective measurement mechanisms, including how these fit within the international development framework, were reviewed.
The workshop also explored the current and future impacts of climate change on the sustainable development goals of developing countries, as well as best practice climate change strategies, in an effort to pinpoint an effective roadmap for mitigating the global threat.
Saudi PIF Signs MoU with JERA for Development of Green Hydrogen Projects
Mr Samba Harouna Thiam, Senior Advisor to the UNDP Administrator, spoke during the workshop virtually from New York, about the current and future impact of climate change, stating: “The UNDP, through its flagship programme Climate Promise, is supporting developing countries with a unifying platform (NDC) to increase their climate pledge and keep track of their contributions towards mitigating and addressing climate change impacts.
"Saudi Arabia’s Green Initiative and the Middle East Green Initiative are also leading the way in addressing climate change through the mobilization of climate finance at scale. Political will, citizens buy-in and large investments are all needed to achieve the Paris Agreement.”
As part of its efforts to fight climate change, during the workshop, SFD officials highlighted the Fund’s commitment to assisting sustainable development through clean energy, afforestation, and greening initiatives in developing countries.
These initiatives contribute towards enhancing the environment and creating jobs in sustainable sectors.
The workshop closely aligns with SFD’s goal to unify efforts with leading global organizations, and contribute to sustainable development.
Through its projects and development programs, SFD is also deeply committed to supporting the achievement of SDGs, which are dedicated to fostering growth and prosperity across developing countries.
Since its establishment, SFD has made important contributions through its loans towards mitigating climate change, such as by supporting various solar and hydropower projects.
By the end of 2021, it funded 15 development loans for the renewable energy sector in nine developing countries, worth a total of US$650.6 million.
Among other key highlights, SFD has contributed towards nine projects supporting afforestation and flood protection, worth a total of $163.6 million. The Fund has also actively supported eleven agricultural land reclamation projects, with a total loan value of $473 million.
Read More: Saudi Fund for Development to Finance Transportation & Housing Sectors Projects in Kyrgyzstan
