The Arab Coordination Group (ACG) has pledged to allocate up to US$50 billion to support African partner countries in building resilient infrastructure and inclusive societies ahead of the COP28 climate change conference. The ACG, comprising ten development institutions, aims to address climate change and sustainable development by scaling up financial assistance in line with the Paris Climate Agreement. The financing will focus on areas such as energy security and transition, regional integration, trade facilitation, gender and youth initiatives, fragile states, private sector financing, food security, and poverty reduction. The ACG has a long-standing commitment to African countries, having invested over US$220 billion in the region thus far.
Resource: https://esgnews.com/arab-coordination-group-pledges-50-billion-to-boost-african-climate-resilience/
