Session focuses on ‘Power of Finance in Developing a Sustainable Environment’

Standard Chartered held a high level session yesterday that focused on ‘The Power of Finance in Developing a Sustainable Environment’. Keynote speakers were Dr Abdulhussain Mirza, President of the Sustainable Energy Authority (SEC) and Dr Mohammed bin Daina, Chief Executive of the Supreme Council for Environment. A panel discussion was also held where experts spoke and discussed the role of sustainable finance in our economies.

The seminar, that took place at Arad Fort Museum, was attended by government officials, financial sector experts and bank executives. Dr Mirza reiterated Bahrain’s commitment to develop renewable energy use, and ensure a sustainable future for energy, in light of technological advances, under the guidance of the wise leadership of Bahrain.

He also highlighted the government’s efforts to help achieve 2030 Sustainable Development Goals for Bahrain and its global role as a global citizen. Dr Mohammed bin Daina, equally highlighted the role of the private sector to invest a greener environment and calling for the financial sector and banks to take a more active initiative towards a greener society and economy.

Mr Abdulla Bukhowa, CEO of Standard Chartered Bahrain, said, on behalf of Standard Chartered, said: “The question of how the financial sector can support environment protection and the development of sustainable energy, is becoming increasingly important now, as we witness a global shift, not only in how global citizens think and behave towards the environment, but also, in how financial organisations have also taken the social and economic responsibility to address this shift by providing sustainable finance solutions.

“This is especially important given the UN’s 2030 Agenda for Sustainable Development and the Paris Agreement on climate change, which have provided an ambitious framework to keep global warming within safe limits.”

Panelists included Deniz Harut, Executive Director of Sustainable Finance at Standard Chartered, Dr Jarmo Kotilaine, Chief Planning and Operating Officer at Tamkeen, Dr Ali Adnan Ibrahim, Global Head of Sustainability and Social Responsibility and Alexander Al Samahiji Acting Executive Director at SEC addressed this global shift by talking about Bahrain’s new sustainable energy framework, investing in the environment, the role of banks in funding sustainable projects, in addition to the impact of sustainable and responsible finance and investment on the financial sector and the economy