Qatar: Investment Promotion Agency joins global coalition for climate FDI

Qatar: Investment Promotion Agency joins global coalition for climate FDI

Doha: The Investment Promotion Agency Qatar (Invest Qatar) announced that it has joined an initiative launched by the World Economic Forum to establish a global coalition for direct foreign investment (FDI) in the field of climate alongside 14 investment agencies around the world as well as the World Association of Investment Promotion Agencies (WAIPA).

The announcement of the new coalition, which represents about 1.8 billion citizens came during the World Economic Forum (Davos 2024) held in Switzerland. Invest Qatar is the only country in the region that is part of it.

Invest Qatar shared in a statement that the coalition is dedicated to driving climate-aligned growth and development. It addresses the critical climate finance gap, with investment authorities playing a pivotal role in bridging it. The coalition aims to share best practices, foster regional collaboration and create green investment opportunities.

A statement issued by the World Economic Forum said that the investment promotion agencies (IPAs) can help put climate FDI on the agenda. While undertaking their investment-related tasks, IPAs have a mandate to grow awareness of investment climate conditions and investment opportunities in their markets.

IPAs can take action by considering specific and targeted measures to attract, facilitate, and support climate FDI. There is