Sharjah 24 – WAM: The Ministry of Climate Change and Environment (MoCCAE) launched two new initiatives, one in collaboration with Majid Al Futtaim and the other is in collaboration with the private sector at the 26th UN Climate Change Conference (COP26) in Glasgow.

The initiatives aim to increase the involvement of the private sector in the UAE’s efforts to reduce greenhouse gas emissions, boost climate change adaptation capabilities, drive climate innovation, and promote sustainable practices.

Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, said, "The UAE continues to reinforce its leadership in climate action at home and abroad, and our private sector entities are our long-standing trusted partners in our fight against climate change. A low-emission future can only become a reality with their active engagement and full commitment. Our two new joint initiatives are prime examples of public-private partnerships that support our nation’s climate and sustainability agenda, and I thank our partners for helping us bring them to life."

Ibrahim Al-Zu’bi, Chief Sustainability Officer at Majid Al Futtaim and Chairman of the Corporate Advisory Board of World Green Building Council, said, "Now in the core of COP26, the past months have been an exciting time for the UAE with the announcement of its Net Zero by 2050 commitment. This is particularly encouraging for Majid Al Futtaim, with our own Net Positive in water and carbon commitments by 2040, we see endless opportunities to work in partnership to drive forward sustainability excellence across our region. Programs and tools like the Posterity20 will be critical for putting the UAE’s commitment into action, mobilising the private sector, growing a community of knowledge sharing and collaboration, and fostering the entrepreneurship and technological solutions vital for the transition to net zero."

MoCCAE and Majid Al Futtaim teamed up with the Posterity Institute to launch Posterity20, the first regional initiative that identifies, celebrates, and showcases the top 20 thought leaders in the field of sustainability in the Middle East and North Africa. The project seeks to create a community of regional sustainability thinkers and doers who can mobilize society into action. The outcomes of Posterity20 will also include an annual forum, the P-Hall of Fame, and the Thought Leadership Portal – a virtual think tank and knowledge hub.

The second initiative is the Climate Tech Venture Capital, the region’s first impact-driven VC fund that works in a co-investment model with major regional corporations to support and scale up clean tech startups in the Middle East, Africa, and Southeast Asia. In addition to securing much-needed funding for promising climate ventures, the fund aims to curate a portfolio of tangible investment opportunities for private sector investors from the region and beyond who are interested in green and sustainable projects.