09 Nov, 2022
The Islamic Development Bank Institute (IsDBI), as part of the official IsDB Group Delegation to the 2022 United Nations Climate Change Conference (COP 27), joins the world in calling for urgent action to combat the adversities the world is facing from Climate Change.
As the knowledge beacon of the IsDB Group, the IsDB Institute is spearheading innovative solutions to enable IsDB Member Countries effectively combat climate change with evidence-based policies.
Together with its partner, the Global Partnership for Sustainable Development Data, the IsDB Institute provides knowledge-based solutions that enable member countries to comprehensively monitor, analyse and share data on water quantity and quality, biodiversity loss, and sustainable agricultural practices. These are essential for environmental monitoring with data that feeds directly into evidence-based climate change policies.
Furthermore, as the entity responsible for coordinating Islamic finance standard-setting bodies, the Institute leads in advocacy and development of policy standards and guidelines that encourage uptake of climate financing and investments by institutions offering Islamic financial services. These include efforts to produce regulatory and supervisory guidelines that will provide the enabling environment for Islamic financial services to engage in climate action while providing the necessary purview to the authorities in maintaining stability in their financial systems.
The Institute’s team at COP27 is led by Dr. Areef Suleman, Director of Economics Research and Statistics, and technically supported by Mr. Syed Faiq Najeeb, Senior Islamic Finance Specialist. The team will make contributions and showcase the Institute’s solutions to the world by partaking in four side events at COP 27 in Sharm El Sheikh. These are:
The IsDB Institute, together with its international partners, will continue to work towards providing innovative knowledge-based solutions to combat climate change in IsDB Member Countries.