What we do now?
06.12.2023
Voltares founder at COP28 Panel Discussion:
Catalyzing Climate Finance to Translate Global Climate Decisions into Actions in the Least Developed Countries
We are pleased to announce that Voltares CEO Mr. Cornelius Patt will participate in a major panel discussion at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28 UAE) in Dubai.
The Least Developed Countries Group on Climate Change aims to play a central role in supporting its member countries' access to climate finance and translating climate policies into concrete action at national and regional levels. The LDC Group focuses on creating an enabling environment for climate and renewable energy projects, including grassroots initiatives, and aims to promote entrepreneurship and resilient infrastructure in the least developed countries.
The Least Developed Countries Group on Climate Change aims to play a central role in supporting its member countries' access to climate finance and in translating climate policy into concrete action at national and regional level. The LDC Group focuses on creating an enabling environment for climate and renewable energy projects, including grassroots initiatives, and aims to promote entrepreneurship and resilient infrastructure in LDCs. In order to finance urgent and important climate action in LDCs, the provision of climate finance to LDCs is crucial. Scaling up climate finance in favour of LDCs is crucial to enable them to address the urgency of the climate crisis.
Moreover, inclusive, gender-equitable and youth-accessible finance will not only help ensure a just (energy) transition that not only increases resilience and adaptive capacity, but also creates jobs, reduces pollution, improves the quality of life of billions of people, and promotes gender equality and intergenerational equity. To make this possible, there is an urgent need to develop alternative, innovative and risk-mitigating financing mechanisms so that LDCs can access such funds despite the debt burden that most of them face.
The discussion "Catalyzing Climate Finance to Translate Global Climate Decisions int Actions in the Least Developed Countries" at the COP28 in Dubai will look at mobilising seed capital and how these funds can advance the climate agenda for LDCs. The challenges in accessing these funds will be discussed and the opportunities to create an enabling environment for sustainable and resilient development will be highlighted.
Mr. Patt brings his vast experience to the discussion and addresses the major challenges in providing climate finance. He also provides insights into the role that financial institutions and partners can play in addressing these challenges.
"We will do everything necessary to offset 1 million tons of greenhouse gases - initially as a cumulative target by 2030, then as an incremental annual target." Mr Patt made clear during his appearance at the COP28.
This ambitious target of 1 million tons , which corresponds to 15 minutes of global annual emissions, demonstrates our commitment to having a tangible environmental impact. Let's use every minute for a greener future!
"We are in a privileged position to make a quick and sustainable impact because we invest our own money. Voltares doesn't have to follow the same rules as other investors." Cornelius Patt said.
Investing in our planet is not only a responsibility, but also an opportunity to lead by example and bring about profound change. Our unique position allows us to navigate with agility and open doors to innovative solutions that can accelerate progress.
"We have realised that we can have much more influence in the global South." Recognising the potential for global impact, our focus goes beyond borders and emphasises the importance of sustainable solutions in the Global South. "We need more cooperation between the private and public sector."
Collaboration is the key! Let's work together to create a sustainable and resilient future. Least Developed Countries Group on Climate Change aims to play a central role in supporting its member countries' access to climate finance and translating climate policies into concrete action at national and regional levels. The LDC Group focuses on creating an enabling environment for climate and renewable energy projects, including grassroots initiatives, and aims to promote entrepreneurship and resilient infrastructure in the least developed countries.