Jeddah, Saudi Arabia: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a multilateral credit and political risk insurer and a member of the IsDB Group, is set to take center stage at COP28, as it announces the launch of its groundbreaking Climate Change Policy & ESG Framework and an agreement to join the Energy Transition Accelerator Financing (ETAF) Platform, managed by International Renewable Energy Agency (IRENA). In addition to these significant milestones, ICIEC will host two compelling side events that will address crucial issues in climate finance and mitigation.
During COP28, ICIEC is set to host two prestigious high-level events that will delve deep into critical aspects of climate finance and mitigation.
The first event will be held on December 1st, 2023, titled "Aggregation and Scalability in Accelerating Climate Finance for Development", and will provide an in-depth exploration of the vital themes of aggregation and scalability within climate finance. Esteemed panelists and experts will offer valuable insights and strategies aimed at expediting climate finance for sustainable development.
The second high-level event, to be held on December 2nd, 2023, named "The Vital Challenges of De-risking in Bridging the Climate Finance Gap for Mitigation," will shine a spotlight on the pivotal significance of de-risking in addressing the substantial climate finance gap for mitigation efforts. Our esteemed panel of experts will not only shed light on the complexities of mitigating climate risks but will also present innovative solutions to facilitate climate finance on a larger scale.
Mr. Oussama Kaissi, CEO of ICIEC, stated, “ ICIEC's engagement at COP28 marks a momentous occasion in the global fight against climate change. The launch of the Climate Change Policy & ESG Framework, the commitment to ETAF, and the hosting of two influential side events exemplify ICIEC's proactive role in fostering sustainability and resilience worldwide”.
About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States, promote intra-OIC trade, and facilitate investments by providing risk mitigation tools and financial solutions. The Corporation is uniquely the only Islamic multilateral insurer in the world. It has delivered a comprehensive suite of solutions and services to the public and private in its 49 Member States and globally. The products' suite includes Documentary Credit Insurance Cover, Credit Insurance Cover, Bank Master Policy, Non-Honouring of Sovereign Financial Obligation, and Investment Insurance Products. ICIEC has maintained for 15 consecutive years an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. ICIEC's resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than US$ 100bn in trade and investment directed to specific sectors - energy, manufacturing, infrastructure, healthcare, and agriculture.
For more information, visit: http://iciec.isdb.org
Mrs. Rania Binhimd, Communication Department