Nisaa Jetha Participates in Economic Forum – Keynotes Included Michael R. Bloomberg

Nisaa Jetha participated and engaged in the Economic Forum this May 2023 alongside key thought leaders discussing the energy crisis, key macro economic trends and global governance. A key focus she engaged upon was financing the just transition in emerging markets.

Illustrative case studies were expressed around the different forms of decarbonisation across emerging markets with a specific focus on Africa.  The African Development Bank, suggests that cumulative financing may range from about US$1.3 trillion to US$1.6 trillion, or about US$127.8 billion per year. If these markets are to decarbonise they will require large FDI to support the development of renewable energy infrastructure as well as technical assistance, knowledge sharing and policy change.

A need for adaption and mitigation finance are critical to enable communities and nations to adapt. At Davos (WEF) last year Nisaa Jetha specifically spoke around the term “climate leapfrogging” and how this could be a game-changing tool for implementation.

Adaptation — The IPCC defines adaptation as “the process of adjustment to actual or expected climate and its effects.” It’s doing what we can to live with and minimize the destruction and suffering that comes from climate change. Climate adaptations span a variety of sectors, from agricultural, to coastal, to urban to name a few.

Mitigation – The IPCC describes, mitigation is “human intervention to reduce the sources or enhance the sinks of greenhouse gases”.  Examples may include

• Replacing greenhouse gas-emitting fossil fuels like coal, oil, and natural gas with clean, renewable energies like solar, wind, and geothermal
• Replacing traditional internal-combustion vehicles with electric options
• Retrofitting old buildings to make them more energy efficient
• Planting trees & preserving forests as they absorb and store more carbon dioxide from the atmosphere

Keynotes included Michael R. Bloomberg, Kristalina Georgieva – Managing Director of the International Monetary Fund (IMF), Emma Coker – Head of Carbon Research BloombergNEF, Dina Powell McCormick- Global Head of Sustainability & Inclusive Growth; Global Head of Sovereign Business Goldman Sachs, Nouriel Roubini Professor Emeritus of Economics & International Business New York University’s Stern School of Business, Stephen A. Schwarzman Chairman, CEO & Co-Founder Blackstone, Ayaan Zeinab Adam CEO AFC Capital Partners Senior Director Africa Finance Corporation & Zoë Knight Group Head, Centre of Sustainable Finance, Head of Climate Change MENAT (HSBC) to name a few.