The Global Industry and Industrialization Summit announced the launch of a Climate Action Initiative in partnership with UAE-based venture capital firm VentureSouq to stimulate seed funding for startups specializing in climate technologies.

This took place during a special event organized by the Summit at the UAE Pavilion in the Blue Zone at the COP28 Conference of the Parties in an effort to enrich the dialogue on decarbonising various industries and promoting climate action.

Nimir Hourani, Director General of the Global Summit on Industry and Industrialization, opened the event by announcing two key initiatives, the World Industry Day and the Climate Action Initiative. Industry and Advanced Technology, and His Gert Müller, Director-General of the United Nations Industrial Development Organization.” UNIDO.

Al-Hourani stressed the importance of such efforts, adding: “The World Summit on Industry and Industrialization is committed to harnessing their potential to support innovation and accelerate the pace of achieving the United Nations Sustainable Development Goals. World, World Industry Day and the Climate Action Initiative are an ambitious step toward a better future.” This decade requires bold and ambitious climate action. As we look to COP28, we must unite with a firm commitment to change ambition. Action, pledge real progress, and Transform innovation into meaningful and scalable solutions, and by doing so, we can “together, imagine a more eco-friendly and sustainable future for all.”

The Climate Action Initiative aims to create a system that fosters innovation and leaves a visible, sustainable footprint at scale. The United Nations Industrial Development Organization will play a key role in identifying comprehensive global challenges, while the Global Industry and Industrialization Summit will encourage startups around the world to find innovative solutions to these challenges. In collaboration with incubators and accelerators, the Summit will provide guidance and support to promising innovators, while Venture Souk will assist in the process of developing these solutions and expanding their application.

The Ministry of Industry and Advanced Technology and the Office of Investment and Technology Development of the United Nations Industrial Development Organization will contribute to the commercialization of these solutions and their deployment in areas of greatest need.

For her part, Sonia Weimüller, co-founder of Venture Sooke, said: “We are pleased to announce Venture Sooke’s collaboration with the Climate Action Initiative in collaboration with the Global Industry and Industrialization Summit. The power of innovation and its ability to bring about radical change in crisis.” “Today emphasizes the role of startups in advancing climate action. By collaborating within these ambitious initiatives, we aim to enable startups to come up with effective solutions that can be used at scale to pave the way towards a sustainable future that addresses the most pressing global challenges.”

Organized by the Global Industry and Industrialization Summit, this special event saw inspiring conversations with Dorothy McAuliffe, Special Representative for Global Partnerships of the US Department of State. Highlighted the important role of public-private partnerships in promoting sustainable industrial growth.

“Governments need private sector expertise, technological innovation and resources,” said Dorothy McAuliffe. “The private sector also needs the ability of governments to implement policies that promote industrialization and sustainable development and facilitate cooperation that combines private and public financing instruments.”

During the special event, a panel discussion titled “Future Energy: Renewable Energy Innovations” was held in the presence of Roger Martella, General Electric, Michael Train, Senior Vice President and Chief Sustainability Officer of Emerson and Lorena. Delgiovanna, Senior Vice President,

and Chief Sustainability Officer and Head of Design and Integration at Hitachi, and Gillian Ivanelko, Chairman, CEO and Director of Chart Industries.

Fatima Al-Sheikh, Adviser to the President of the Arab Bank for Economic Development in Africa, Dr. Sidi Old Da, delivered a keynote address on behalf of His Excellency, opening the second dialogue session on “Improving the Pace of Climate Projects: The Role”. The Fifth Industrial Revolution in Transforming Industries.” Moderated by President Matti Yetta. Managing Director of Sustainability at CGI, the session explored the capabilities of the Fifth Industrial Revolution. Alessandro Bresciani, Senior Vice President of Climate Technology Solutions at Baker Hughes, and James Dorris, CEO of Audi’s Aviation, CEO, ICT Insights were provided by Omar Al Mahmoud, CEO of the Sector Development Fund and Professor Dr. Estelle LA Herlin, Member of the Global Energy Solutions Board of Directors.

Weixi Jung, Head of the Investment Promotion, Technology and Institutional Partnerships Division of the United Nations Industrial Development Organization (UNIDO), presented key points at the end of a stimulating dialogue session that contributed to supporting climate action plans during the COP28 Conference of Parties. .