MAS, or the Monetary Authority of Singapore, is taking significant steps to encourage financial institutions to prioritize decarbonization efforts. In order to achieve this, MAS plans to establish clear supervisory expectations for credible decarbonization efforts by financial institutions. This will help ensure that these institutions are actively working towards reducing their carbon footprint and supporting […]

World leaders, international organizations, and activists recently gathered at the New Global Financial Summit in Paris to tackle two of the most pressing issues facing our planet: poverty and climate change. The summit aimed to reshape the global financial system to prioritize people over profits and make polluters pay. Vanessa Nakate, a climate activist from […]

Multilateral development banks (MDBs) are taking an active role in climate action projects in the near future. In 2021, low- and middle-income countries received approximately US$51 billion in climate finance from MDBs. However, the ‘Just Transition’ discourse poses a significant challenge for emerging economies in mobilizing finance for the transition to a low-carbon economy. A […]

Climate finance remains a major obstacle in the ongoing climate talks in Bonn, Germany. The issue has become the “Achilles heel of climate negotiations” and highlights the urgent need for action. Unfortunately, parties failed to reach a consensus on who would host the Santiago Network, further delaying progress. The talks in Bonn serve as a […]

Alvaro Lario, the President of the International Fund for Agricultural Development (IFAD), has urged increased investment in small-scale farmers and rural communities at the G20 Agriculture Ministers’ meeting in India. Lario emphasized that investing in rural communities is the most cost-effective way to improve global food security and support stability. He highlighted the need for […]

Climate finance plays a crucial role in reducing greenhouse gas emissions and helping communities adapt to the impacts of climate change. The funds can come from a variety of sources, including governments, private companies, international organizations, and individuals. Developing countries, in particular, require climate finance to transition to low-carbon and climate-resilient economies. Climate finance can […]

Ms Fakiha Mahmood, Deputy Director (Research) at PIPS, highlights the crucial role that parliaments play in policy-making, specifically in relation to climate change. Parliaments have legislative, representation, and oversight functions that are essential to the policy process. At COP27, the Loss and Damage Fund was established to compensate countries most vulnerable to the impacts of […]

Dubai International Financial Centre (DIFC) is at the forefront of addressing sustainability challenges in the Middle East, Africa and South Asia (MEASA) region. As the leading global financial centre in the area, DIFC is committed to finding shared solutions to address climate challenges. The second Sustainable Finance Summit, hosted by DIFC, brought together experts and […]

OpenAI, the artificial intelligence research laboratory founded by tech luminaries such as Elon Musk, has closed a $300 million funding round at a valuation of $29 billion. The funding will be used to continue research and development of advanced AI technologies, including their highly successful ChatGPT language model. The funding round was led by venture […]

Mercari, the popular online marketplace, has recently launched a digital shopping assistant powered by ChatGPT. This innovative tool, known as Merchat AI, is designed to enhance the customer shopping experience and provide personalized support throughout the buying journey. According to an article from RIS News, Merchat AI uses natural language processing to understand customer inquiries […]