![]() ![]() More investment in electric storage and transmission is needed, agreed delegates. One of the challenges, it was noted, is the current elevated cost of energy infrastructure, which is delaying regions’ transitions to net zero. ![]() On day one, delegates discussed pathways to a resilient energy transition centred on energy integration in the region, green hydrogen development, zero emission vehicles (ZEV), and energy access. Private finance – and the need to explore different financing mechanisms – is integral to strengthening human capital, creating green jobs, addressing inequalities, and building resilient economies. “It is more important than ever to bridge the gap between government leaders and non-state actors, and drive the radical collaboration needed for increasing ambition and delivering on our climate goals,” said COP27 Climate Champion, Mahmoud Mohieldin. “Encouraging the production of the parts that make up the transition value chain would bring growth and reduce our vulnerability,” he said. Jose Luis Samaniego, Director of the Sustainable Development and Human Settlements Division, ECLAC, highlighted the importance of encouraging the work between the public and private sectors and creating enabling conditions for the private sector to help us advance in the development of the region. ![]() Chile has been more ambitious than Japan, and it’s taking advantage of the transition.” But let’s not assume is doing the transition slower. We’re trying to finance the transition of the whole foundation of our economic system in an inclusive and just way. On day one, COP26 Climate Champion, Nigel Topping, said: “What we’re trying to do here is very difficult. The theme of the two days focused on financing sectors that helped facilitate the energy transition as well as climate resilience. #Regional finance series#The Forum took place from 1-2 September and continued a series of meetings launched in July which focus on implementation and accelerating progress to catalyse forward-looking opportunities – against a backdrop of climate breakdown, COVID-19 and Russia’s invasion of Ukraine. The third of the ‘Regional Finance Forums’ – convened by the United Nations Economic and Social Commission for Latin America and the Caribbean (ECLAC), the incoming Egyptian Presidency of COP27 and the UN Climate Change High-Level Champions for COP26 and COP27 -concluded in Santiago, Chile, on Friday. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.Finance Forum identifies solutions to boosting finance for resilience and decarbonization in Latin America and the Caribbean By Climate Champions | September 5, 2022 The head of Singapore's central bank in May said the country's financial sector was creating more jobs than local staff could fill and warned a "Singaporean only" approach would be fatal for the country as a global financial centre. #Regional finance upgrade#Tan said Singapore would also develop its own talent and upgrade skills of its workforce, while giving Singaporeans global and regional exposure so they could take up leadership positions in global firms. The government has sought to allay those concerns, however, stressing foreign talent lured to Singapore would help to "create a diverse range of opportunities for Singaporeans". Singapore has seen discontent among the local workforce about the number of foreigners employed in the country, with fears that too many well-paid jobs were being taken by expatriates. "When we are talking about top talent, we must be mindful of how global they are, and how stiff the competition is for them," Tan said.īritain, Australia and Germany have launched similar programmes, while closer to home, Malaysia and Thailand are also offering incentivised long-term visas for foreigners with specialist expertise who earn above a certain income threshold. The regional financial hub announced new rules two weeks ago to draw expatriates earning at least S30,000 ($21,452) a month, offering them five-year visas that would automatically allow their spouses to work also.Īddressing parliament, Manpower Minister Tan See Leng said global talent would help Singapore develop sectors like sustainability, artificial intelligence or fintech, but it faced a challenge with other countries "playing an offensive game". Singapore is hoping a special work visa will make it more competitive in attracting "the rainmakers of the world", its manpower minister said on Monday, as it seeks to balance its need for talent with local unease about expatriate workers. ![]()
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