Enhancing the availability of capital to fill the current climate finance gap is vital
Invest Cyprus will participate with 14 countries in the new Foreign Direct Investment Coalition created within the framework of the Davos Economic Forum for the climate (Climate FDI Coalition).
The proposal to create a Coalition is supported by 14 investment leaders and organizations, representing 300 million citizens, who are committed to leading around investment in climate-aligned growth and development.
As stated in a Press Release issued in Davos, enhancing the availability of capital is crucial to closing the current climate finance gap. Investment authorities, it is emphasized, can play a key role in filling this gap.
More specifically, it is stated that through the Coalition, the investment authorities can explore ways of exchanging good practices and mutual support, including at the regional level. In particular, the Coalition can work with investors to create and facilitate green investment opportunities. The Coalition's invitation comes at a critical time and the signatories will work with the Forum on next steps.
Commenting on this development, the General Manager of Invest Cyprus, Mr. Marios Tannoussis, who will represent the Organization in the Coalition, said that our participation in this effort is very important, because Cyprus will participate in an international body that it will promote investments in a critical sector, such as green growth.
Cyprus, he added, has green investments in its sights and our participation in this Coalition will greatly help our effort.