ACCA identifies critical areas for climate change solution investment

ACCA has hosted a panel featuring global experts that focused on catalysing private investment for climate change mitigation and adaptation at the 2023 World Investment Forum at ADNEC. Under the theme of investing in sustainable development, the event focused on promoting climate finance and investment. It was organised by the United Nations Conference on Trade and Development (UNCTAD), a permanent intergovernmental body established by the United Nations. ACCA's participation in this global convention underscores its commitment to advancing sustainability reporting and public sector investment. Chaired by Alex Metcalfe, head of public sector, ACCA, the panellists included Ali Mohsin H. Al Hosani, director, internal auditing at the Department of Economic Development, Abu Dhabi Government, Saad A Alhahrani, Deputy Minister for Economic Affairs, Ministry of Investment, Saudi Arabia, Srinivas Gurazada, head of PEFA Secretariat, World Bank, Caroline Aggestam Pontoppidan, professor at Copenhagen Business School, Maggie McGhee, executive director at ACCA, and Wael Abou Zaki, partner at PwC Middle East. Metcalfe said: “That includes the ways in which we assess the economic, social and governance arrangements around infrastructure projects. It also includes thinking about project selection, and then the maintenance and oversight of projects as well.” Limited resources was identified as one of the challenges faced by governments in prioritising sustainability projects for investment, though there are a huge number of opportunities to support sustainability. McGhee added: “The idea of value is evolving within the current context of public sector finance. It is broadening out beyond economic thinking to the full range of value that needs to be provided to society. Making the right choices that provide a legacy in respect of sustainable investment is absolutely critical. And to do that, you need to have strong information. We need to be able to analyse that information and be able to make predictions in terms of the future. “The right governance arrangements need to be in place, including the proper allocation of risk between parties to maximise what should be a win-win relationship for the public and private sector.” McGhee concluded: “We also need to consider looking at the role of the Supreme Audit Institute - the strength in their control system. It is also about ensuring that their broader governance is fit for purpose. Public financial management is critical for jurisdictions that haven't yet adopted this across accounting, as is having a strong capital investment evaluation to underpin decision making. There's a strong role for assurance providers, looking at supreme audit institutes to make sure that they're adequately supported.”

ACCA identifies critical areas for climate change solution investment

ACCA’s participation in the 2023 World Investment Forum underscores its commitments to advancing sustainability reporting and public sector investment

Read Next

Ensors appoints new partner to tax team

FRP Corporate Finance unveils 15 new promotions

PKF Littlejohn Advisory appointed joint liquidators of British Youth Council

ICAEW welcomes CLA’s acquisition of Engine B

Evelyn Partners to partner with The Alfred Dunhill Padel Classic

Ensors appoints new partner to tax team

FRP Corporate Finance unveils 15 new promotions

PKF Littlejohn Advisory appointed joint liquidators of British Youth Council

ICAEW welcomes CLA’s acquisition of Engine B

Evelyn Partners to partner with The Alfred Dunhill Padel Classic

Ensors appoints new partner to tax team

Today’s news in brief – 13/5/2024

BHP appoints digital finance partner

FRP Corporate Finance unveils 15 new promotions

Begbies Traynor secures Torquay United sale

Read Next

Ensors appoints new partner to tax team

FRP Corporate Finance unveils 15 new promotions

PKF Littlejohn Advisory appointed joint liquidators of British Youth Council

ICAEW welcomes CLA’s acquisition of Engine B

Evelyn Partners to partner with The Alfred Dunhill Padel Classic

Related Articles

Ensors appoints new partner to tax team

Today’s news in brief – 13/5/2024

BHP appoints digital finance partner

FRP Corporate Finance unveils 15 new promotions

Begbies Traynor secures Torquay United sale