PRESSR: The Islamic Corporation for the Insurance of Investment and Export Credit unveils pioneering initiatives and side events at COP28
Jeddah, Saudi Arabia: The Islamic Corporation for the Insurance of Investment and Export Credit, a multilateral credit and political risk insurer and member of the Islamic Development Bank Group, is set to take center stage at the UN Climate Change 28 Conference. , announcing the launch of its pioneering climate change policy, environmental, social and governance framework and an agreement to join the Energy System Transition Acceleration Financing Platform ( ETAF ), managed by the International Renewable Energy Agency ( IRENA ). In addition to these important milestones, IIEC will host two compelling side events that will address critical issues in climate finance and mitigation.
During UN COP28 , the Islamic Corporation for the Insurance of Investment and Export Credit is set to host two prestigious high-level events that will delve deeply into critical aspects of climate finance and mitigation.
The first event will be held on 1 December 2023, titled “Aggregation and Scalability in Accelerating Climate Finance for Development,” and will provide an in-depth exploration of the critical topics of aggregation and scalability in climate finance. Respected speakers and experts will provide valuable insights and strategies aimed at accelerating climate finance for sustainable development.
The second high-level event, to be held on 2 December 2023, entitled “Critical Challenges of De-risking in Closing the Climate Finance Gap for Mitigation,” will highlight the pivotal importance of de-risking in addressing the significant gap in climate finance for mitigation efforts. The esteemed panel of experts will not only highlight the complexities of climate risk mitigation, but will also provide innovative solutions to facilitate climate finance on a broader scale.
Mr. Osama Al-Qaisi, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit, stressed: “The participation of the Islamic Corporation for the Insurance of Investment and Export Credit in the UN COP28 represents a momentous occasion in the global efforts against climate change. The launch of the Climate Change Policy and ESG Framework companies, committing to a financing platform to accelerate energy system transformation, and hosting two impactful side events that embody the proactive role of the Islamic Corporation for the Insurance of Investment and Export Credit in promoting sustainability and resilience around the world.”
About the Islamic Corporation for the Insurance of Investment and Export Credit
The Islamic Corporation for the Insurance of Investment and Export Credit was established in 1994 with the aim of strengthening economic relations between member states of the Organization of Islamic Cooperation and supporting intra-regional trade and investments by providing financial tools and solutions to mitigate risks. The institution is unique in that it is the only multilateral Islamic insurance institution in the world. It has taken the lead in providing a comprehensive range of solutions to companies and parties in its 49 member countries. The Corporation has deservedly obtained, for the fifteenth year in a row, a rating of “Aa3” in terms of financial insurance credit strength according to Moody’s, which has placed the Corporation at the forefront of the political risk and credit insurance industry. The Corporation’s ability to withstand is enhanced thanks to its sound policies and practices related to guarantee, reinsurance and management. Risks: Since its inception, the Corporation has provided insurance coverage worth more than $ 100 billion in the fields of trade and investment, and its activities have been directed towards specific sectors such as energy, manufacturing, infrastructure, health care, and agriculture .
© Press Release 2023
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