The Future Investment initiative kicked off in Saudi’s Capital, Riyadh on Tuesday with leaders calling for the exploitation of available opportunities that can shape tomorrow’s economy.
Speaking at the opening ceremony of the conference, Yasir Al-Rumayyan, Chairman of FII Investment said the current circumstances have reinforced the importance of this year’s theme which is “The New Compass,”
The three-day high-level event brought together 6,000 participants from more than 90 countries. It has also connected 500 local and international speakers from different sectors.
The conference brought on board a host of world leaders as well as policy makers. They are from an array of fields including Artificial Intelligence (AI), Robotics, Education, Healthcare, and Sustainability.
Saudi Arabia has executed confidence that the conference will play a cardinal role in equipping investors with new insights. This will help develop new sustainable modalities of combating the new challenges such as climate change.
World leaders underscored the need for a realistic timeline towards alternative energy resources.Most of them cited high oil demand at the peak of coal in the post pandemic.
President and CEO of Armaco Amin Nasser called for the need to reliable, affordable supply and investment in renewables to improve transition lines.
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The International Energy Agency (IEA) reported that renewable energy will comprise 35% of the total global power output by 2025.
Currently, Africa has only 2% of renewable investments. Some Investors have argued that it is on a path towards a sustainable future. During the forum Kenya’s President also called for investments in exploiting renewable assets to add value and create jobs.
“Any investment or development that doesn’t bring Africa into the equation is incomplete. The continent is rich in mineral assets, renewable energy and human capital. With 40 % of the global workforce and 25% of the world population expected to reside in Africa by 2100 and 2050. Its crucial to include Africa in any climate and economic planning,” Kenya’s President Dr. William Ruto stated
Likewise, leaders called for new members to join BRICS to spark a new era in global cooperation. The leaders said that BRICS is stabilizing the global balance. This will help to create an equilibrium force for the global south and the world.
“The entry of new countries into BRICS will help energies it and will help us to truly become multi-polar world that we need to face todays challenges,” Dr- Anish Shah, CEO & Managing Director Mahindra Group.
Future Investment Initiative Resolutions.
The Future investment forum gathered leaders and investors in Riyadh resolved to tackle Environmental, Social and Governance (ESG) shortcomings. The Initiative will fight for the resolution to Increase ESG investment in emerging markets
Emerging markets are home to 86% of the world’s population. Moreover, they are responsible for 58% of global GDP, despite receiving less than 10% of all ESG investments.
As the growth engine of the future this is far from the scale necessary for sustainable growth. It has become insufficient to meet the $2.5 to $3.7 trillion annual investment gap. It is also needed to address the UN’s Sustainable Development Goals (SDGs) in developing countries.
The resolution further called for a commitment by FII Institute partners to implement an inclusive ESG methodology. The ESG will be implemented to have a goal of increasing AUM in Emerging Markets to 30 per cent of global sustainability portfolios by 2030.
Additionally, the resolution called for market participants to report and provide the data. These would be needed by the world to make better and more efficient investment choices.
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About Future Investment Initiative Institute
The Future Investment Initiative (FII) Institute is a global nonprofit foundation driven by data. The Initiative has an investment arm and one agenda: Impact on Humanity.
The initiative works globally to foster great minds from around the world. Likewise, it also helps to turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.
FII7 acts as an interactive platform designed to help investors recalibrate the pathways for their companies and for the global economy.