Retail
Subscription
Advertise
  • Home
    • About Us
  • News
  • Transport
    • Air Cargo
    • Airlines
    • Maritime
    • Rail
    • Road
  • Ports
    • Airports
  • Materials Handling
    • Warehousing
  • Vehicles
    • Automobiles
    • Autonomous
    • Commercial
    • Construction
    • Truck & Fleet
  • E-commerce
  • Technology
    • Blockchain
    • IoT
    • Robotics
    • Telematics
  • Interviews
    • Analyses
    • Opinion
    • Outlook
    • View Point
  • Express Deliveries
  • Freight
  • FM
    • Waste Management
  • Expo 2020
  • Events
    • LIL Awards UAE 2023
    • LIL Summit KSA 2023
    • LIL Awards UAE 2022
No Result
View All Result
LogisticsGulfNews.com
No Result
View All Result

World Investment Forum:  ACCA identifies critical areas for enhancing public investment in climate change solutions

by Saee Joshi
October 24, 2023
in News

During the ongoing 2023 World Investment Forum at ADNEC, the Association of Chartered Certified Accountants (ACCA) hosted a panel early this week.

ACCA-led panel ‘Delivering Public Sector Investment for Sustainable Development’ at the 2023 World Investment Forum, Abu Dhabi.

The event featured global experts who shared valuable insights and best practices related to leveraging public sector investment, with a particular focus on catalyzing private investment for climate change mitigation and adaptation.

Chaired by Alex Metcalfe, Head of Public Sector, ACCA, the panelists include Ali Mohsin H. Al Hosani, Director, Internal Auditing at the Department of Economic Development, Abu Dhabi Government; Saad A. Alhahrani, Deputy Minister for Economic Affairs, Ministry of Investment, Saudi Arabia; Srinivas Gurazada, Head of PEFA Secretariat, World Bank; Caroline Aggestam Pontoppidan, Professor, Copenhagen Business School; Maggie McGhee, Executive Director, ACCA; and Wael Abou Zaki, Partner, PwC Middle East.

The symposium concluded that changes in infrastructure governance demand significant improvement. “That includes the ways in which we assess the economic, social and governance arrangements around infrastructure projects. It also includes thinking about project selection and then the maintenance and oversight of projects as well,” said Metcalfe.

Limited resources were identified as one of the challenges faced by governments in prioritizing sustainability projects for investment, though there are a huge number of opportunities to support sustainability.

“The idea of value is evolving within the current context of public sector finance. It is broadening beyond economic thinking to encompass the full range of value that needs to be provided to society. Making the right choices that provide a legacy with respect to sustainable investment is absolutely critical. And to do that, you need to have strong information. We need to be able to analyze that information and be able to make predictions in terms of the future,” said McGhee.

The panel explored ways in which governments can attract private finance for sustainable development. McGhee suggested, “The right governance arrangements need to be in place, including the proper allocation of risk between parties to maximize what should be a win-win relationship for the public and private sectors.“

She continued, “We also need to consider looking at the role of the Supreme Audit Institute—the strength in their control system. It is also about ensuring that their broader governance is fit for purpose. Public financial management is critical for jurisdictions that haven’t yet adopted this across accounting, as is having a strong capital investment evaluation to underpin decision-making. There’s a strong role for assurance providers, looking at supreme audit institutes to make sure that they’re adequately supported.”

As the discussion revolved around urging governments to engage in effective, long-term investments, the panel emphasized that the true rewards from these investments often materialize beyond the conventional 3- to 7-year political or budget cycles.

ACCA’s participation in this global convention underscores its commitment to advancing sustainability reporting and public sector investment.

The 2023 World Investment Forum is an international platform that aims to address key investment challenges caused by today’s multiple global crises ahead of global talks on climate change at COP28. Under the theme of Investing in Sustainable Development, the event focuses on promoting climate finance and investment. It is organized by the United Nations Conference on Trade and Development (UNCTAD), a permanent intergovernmental body established by the United Nations.

Tags: ClimateForumInvestmentLogisticsGulfNews
ShareTweetShareSend

Related Posts

Dubai Holding Announces participation At COP28 As Principal Pathway Partner
Contribution

Dubai Holding Announces participation At COP28 As Principal Pathway Partner

December 1, 2023
Dubai Airports achieves sustainability milestone – cutting waste to landfills by 60%
Airports

Dubai Airports achieves sustainability milestone – cutting waste to landfills by 60%

December 1, 2023
Tamer Mölnlycke Care, a partnership between Tamer Group and the global company Mölnlycke, announces the development and enhancement of local products in Saudi Arabia
News

Tamer Mölnlycke Care, a partnership between Tamer Group and the global company Mölnlycke, announces the development and enhancement of local products in Saudi Arabia

November 30, 2023
Abu Dhabi Chamber Signs 5 Cooperation Agreements at the Conclusion of ADIFE 2023
Contribution

Abu Dhabi Chamber Signs 5 Cooperation Agreements at the Conclusion of ADIFE 2023

November 30, 2023
Please login to join discussion

Search

No Result
View All Result

Recent News

Dubai Holding Announces participation At COP28 As Principal Pathway Partner

Dubai Holding Announces participation At COP28 As Principal Pathway Partner

December 1, 2023
Dubai Airports achieves sustainability milestone – cutting waste to landfills by 60%

Dubai Airports achieves sustainability milestone – cutting waste to landfills by 60%

December 1, 2023
Tamer Mölnlycke Care, a partnership between Tamer Group and the global company Mölnlycke, announces the development and enhancement of local products in Saudi Arabia

Tamer Mölnlycke Care, a partnership between Tamer Group and the global company Mölnlycke, announces the development and enhancement of local products in Saudi Arabia

November 30, 2023

LogisticsGulfNews.com, the niche media portal designed for the industry, is deeply committed to representing, serving and promoting the interests of the logistics and supply chain businesses in the region

Recent News

  • Dubai Holding Announces participation At COP28 As Principal Pathway Partner
  • Dubai Airports achieves sustainability milestone – cutting waste to landfills by 60%
  • Tamer Mölnlycke Care, a partnership between Tamer Group and the global company Mölnlycke, announces the development and enhancement of local products in Saudi Arabia

Contact Us

For Editorial Opportunities
editor@logisticsgulfnews.com

For Advertising Opportunities
info@logisticsgulfnews.com

AARYA Media FZC LLC
A- 5805-189, Business Club
Ajman Media City.
P.O Box 29127
Phone: +971 4 368 8464
Ajman- United Arab Emirates

  • About Us
  • Advertise
  • Subscription
  • Contact Us

©️ 2021 Logistics Gulf News. All rights reserved

No Result
View All Result
  • Home
    • About Us
  • News
  • Transport
    • Air Cargo
    • Airlines
    • Maritime
    • Rail
    • Road
  • Ports
    • Airports
  • Materials Handling
    • Warehousing
  • Vehicles
    • Automobiles
    • Autonomous
    • Commercial
    • Construction
    • Truck & Fleet
  • E-commerce
  • Technology
    • Blockchain
    • IoT
    • Robotics
    • Telematics
  • Interviews
    • Analyses
    • Opinion
    • Outlook
    • View Point
  • Express Deliveries
  • Freight
  • FM
    • Waste Management
  • Expo 2020
  • Events
    • LIL Awards UAE 2023
    • LIL Summit KSA 2023
    • LIL Awards UAE 2022

©️ 2021 Logistics Gulf News. All rights reserved