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The South African
16 minutes ago
- Business
- The South African
Global Citizen Summit in Spain: SA actress to take the stage
Global Citizen has announced that its flagship summit, Global Citizen NOW, will take place on June 29, 2025, at CaixaForum Sevilla in Spain. This summit will also feature our very own Nomazamo Mbatha as the host The summit has been scheduled to take place ahead of the UN's Fourth International Conference on Financing for Development (FfD4). A focus on reshaping global financial systems, promoting sustainable debt relief, and accelerating investment in renewable energy across Africa and Latin America. The event will be hosted by South African actress and humanitarian Nomzamo Mbatha and will see high-level speakers deliberate. These include Pedro Sánchez (President of Spain), Ursula von der Leyen (President of the European Commission), Mia Mottley (Prime Minister of Barbados), Gaston Browne (Prime Minister of Antigua and Barbuda), Mark Suzman (CEO of the Gates Foundation), and Maria Fernanda Espinosa (former UN General Assembly President), and many others This summit is being held in partnership with the Spanish Government. Intensive discussions and focused panels will place an emphasis on transformational development finance and renewable energy investment, particularly in underserved regions. Another focus of the summit will be the Scaling Up Renewables in Africa campaign. This is supported by von der Leyen and South African President Cyril Ramaphosa, in collaboration with the International Energy Agency. This campaign is aimed at tripling renewable energy capacity by 2030, as well as creating 500 000 jobs in the energy field. This particular initiative also hopes to provide electricity access to 600 million Africans. The pledging conference is scheduled for November 2025 during the G20 Summit. Leaders like Sánchez and Mottley have called for urgent reform of the global financial architecture to meet today's challenges. Global Citizen CEO Hugh Evans emphasized the need for 'radical efficiency' to end extreme poverty. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 11. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The Herald
11 hours ago
- Business
- The Herald
Global Citizen summit targets finance reform, renewable energy scale-up
Global Citizen, the world's leading advocacy organisation dedicated to ending extreme poverty, has announced that its flagship action summit, Global Citizen NOW, will take place at CaixaForum Sevilla in Spain on June 29. The event will convene ahead of the UN's Fourth International Conference on Financing for Development (FfD4). Hosted in partnership with the Spanish government, the summit will gather leaders across sectors to drive ambitious action on poverty and the climate crisis. The summit will serve as a strategic catalyst and global platform to shape the action coming out of FfD4 and advance an ambitious agenda for financing reform and international co-operation. It will feature dynamic high-level panels and highlight the urgent need for investments in renewable energy across Africa and transformative investments in development finance. Pedro Sánchez, President of Spain, said the UN's FfD4 is a critical opportunity that could not be more timely. 'World leaders need to work together within the multilateral framework to reshape the global financial architecture so it works for everyone, especially the world's most vulnerable. 'Spain is proud to co-host Global Citizen NOW: Sevilla to drive bold, co-ordinated action to tackle the world's biggest challenges and mobilise ambitious initiatives for sustainable development,' said Sánchez. The summit will serve as a key moment in Global Citizen's year-long s caling up renewables in Africa campaign, in partnership with European Commission President Ursula von der Leyen and President Cyril Ramaphosa, with policy support from the International Energy Agency. The campaign aims to secure commitments from governments, the private sector and multilateral banks towards tripling renewable energy capacity by 2030, support the creation of 500,000 new energy jobs, and address the unmet energy needs of 600-million people who don't have electricity on the continent. It will culminate in a pledging conference in November alongside the G20 summit. 'Our global financial system was not designed to meet today's challenges. It must evolve to reflect the realities of a world in crisis,' said Prime Minister Mia Amor Mottley of Barbados. Mottley said from unsustainable debt burdens to the escalating climate emergency, too many nations are being asked to do more with less. 'The Global Citizen NOW: Sevilla summit is a vital platform to champion equitable financing, accelerate renewable energy transitions across Africa and SIDS, and advance the systemic reforms our world urgently needs. Now is the time for co-operation and decisive action for people and planet,' she said. Co-Founder and CEO of Global Citizen Hugh Evans said Global Citizen NOW: Sevilla will showcase international co-operation at a time when the world so urgently needs it. 'The future of financing global development demands radical efficiency, as we need to do more with less to deliver the impact that is needed to end extreme poverty around the world,' Evans said. The summit will be hosted by Nomzamo Mbatha, actress, humanitarian and Global Citizen ambassador. Previous editions of Global Citizen NOW have been held in New York, Melbourne and Rio de Janeiro. Later this year, the summit series is expected to expand its global footprint and also head to Detroit, Michigan, Belém, Brazil and Johannesburg. TimesLIVE
TimesLIVE
21 hours ago
- Business
- TimesLIVE
Global Citizen summit targets finance reform, renewable energy scale-up
Global Citizen, the world's leading advocacy organisation dedicated to ending extreme poverty, has announced that its flagship action summit, Global Citizen NOW, will take place at CaixaForum Sevilla in Spain on June 29. The event will convene ahead of the UN's Fourth International Conference on Financing for Development (FfD4). Hosted in partnership with the Spanish government, the summit will gather leaders across sectors to drive ambitious action on poverty and the climate crisis. The summit will serve as a strategic catalyst and global platform to shape the action coming out of FfD4 and advance an ambitious agenda for financing reform and international co-operation. It will feature dynamic high-level panels and highlight the urgent need for investments in renewable energy across Africa and transformative investments in development finance. Pedro Sánchez, President of Spain, said the UN's FfD4 is a critical opportunity that could not be more timely. 'World leaders need to work together within the multilateral framework to reshape the global financial architecture so it works for everyone, especially the world's most vulnerable. 'Spain is proud to co-host Global Citizen NOW: Sevilla to drive bold, co-ordinated action to tackle the world's biggest challenges and mobilise ambitious initiatives for sustainable development,' said Sánchez. The summit will serve as a key moment in Global Citizen's year-long scaling up renewables in Africa campaign, in partnership with European Commission President Ursula von der Leyen and President Cyril Ramaphosa, with policy support from the International Energy Agency. The campaign aims to secure commitments from governments, the private sector and multilateral banks towards tripling renewable energy capacity by 2030, support the creation of 500,000 new energy jobs, and address the unmet energy needs of 600-million people who don't have electricity on the continent. It will culminate in a pledging conference in November alongside the G20 summit. 'Our global financial system was not designed to meet today's challenges. It must evolve to reflect the realities of a world in crisis,' said Prime Minister Mia Amor Mottley of Barbados. Mottley said from unsustainable debt burdens to the escalating climate emergency, too many nations are being asked to do more with less. 'The Global Citizen NOW: Sevilla summit is a vital platform to champion equitable financing, accelerate renewable energy transitions across Africa and SIDS, and advance the systemic reforms our world urgently needs. Now is the time for co-operation and decisive action for people and planet,' she said. Co-Founder and CEO of Global Citizen Hugh Evans said Global Citizen NOW: Sevilla will showcase international co-operation at a time when the world so urgently needs it. 'The future of financing global development demands radical efficiency, as we need to do more with less to deliver the impact that is needed to end extreme poverty around the world,' Evans said. The summit will be hosted by Nomzamo Mbatha, actress, humanitarian and Global Citizen ambassador. Previous editions of Global Citizen NOW have been held in New York, Melbourne and Rio de Janeiro. Later this year, the summit series is expected to expand its global footprint and also head to Detroit, Michigan, Belém, Brazil and Johannesburg.
The Guardian
4 days ago
- Business
- The Guardian
Starmer urged to attend UN summit and back plans to tackle global debt crisis
More than 80 charity leaders and campaigners have written to Keir Starmer urging him to attend a UN global development conference and back plans to reduce the debt payments made by poor countries. World leaders including the French president, Emmanuel Macron, and the Canadian prime minister, Mark Carney, and the European Commission president, Ursula von der Leyen, are expected at the Financing for Development conference – known as FfD4 - in Seville later this month. The campaigners claim that in negotiations between participating countries, the UK, together with others including the US, has blocked proposals for a new UN intergovernmental process to tackle the debt crisis in the global south. Signatories to the letter include the heads of Christian Aid, Oxfam GB, Save the Children UK, ActionAid and Unicef UK. 'We are deeply concerned about the UK's position to systematically block any significant reform of the debt architecture within the FfD4 negotiations thus far. This approach risks putting this government on the wrong side of history and risks further damaging the UK's reputation as a development partner,' it says. The development minister Jenny Chapman has insisted the UK will continue to take a lead on international development, despite slashing the aid budget to fund higher defence spending. Under its party manifesto, Labour pledged to 'repair relationships with developing countries and to restore the UK's role on the international development stage'. Romilly Greenhill, the chief executive of the aid umbrella group Bond, which coordinated the letter, said: 'Following the shortsighted decision to cut the UK aid budget, this government has a responsibility to step up and take decisive action on debt.' She added: 'The UK must stand in solidarity with countries hardest hit by the unjust debt crisis. Supporting their calls is vital – not just for the global majority, but for a fairer, more stable future for everyone.' Patrick Watt, the chief executive of Christian Aid, said: 'The UK cannot build real partnerships with the global south while blocking the very reforms those countries are calling for. At FfD4, the government has a choice: stand in solidarity with countries facing debt and climate crises, or cling to outdated power structures that continue to extract more than they give.' The letter calls on Starmer to 'ensure that the UK government demonstrates that it is ready to lead on debt on the global stage' by supporting the idea of a UN process. 'This is urgently needed for agreeing just, timely, and lasting debt relief and preventing future debt crises,' the letter adds. With the UK a common jurisdiction for the contracts that govern sovereign debt, the government is also being urged to pass legislation to force private sector creditors to bear their fair share of any debt relief programmes. The letter to Starmer says: 'Reforming UK debt legislation and supporting global financial reform costs the UK taxpayer nothing, all that is required is your willingness to lead.' The World Bank estimates more than half of low-income countries are either already in debt distress or at high risk of it, and its chief economist has warned that outside Asia, the developing world risks becoming 'a development-free zone'. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Countries struggling to meet their debt obligations can already apply for relief through a process known as the common framework, which is administered by the International Monetary Fund, but critics complain that it can take years. A UK government spokesperson said: 'We remain deeply committed to supporting developing countries to tackle unsustainable debt and continue to work with them to address both the immediate challenges, and the underlying drivers. 'We look forward to working through a full spectrum of development finance issues, alongside our partners at the conference in Seville later this month.' They spokesperson added that the UK would be represented by a minister at the meeting. Global efforts to tackle poverty have taken a significant blow from the deep cuts in overseas aid budgets made by Donald Trump's administration, which has all but dismantled its aid agency, USAID.
Biz Bahrain
12-06-2025
- Business
- Biz Bahrain
Infracorp Showcases the Kingdom's First Sustainable Sukuk
Infracorp, a leading specialised company in investing in the infrastructure and sustainable development sector, has announced its participation in a United Nations workshop recently held in Bahrain to highlight the Kingdom's contribution to global efforts in financing sustainable development. The company presented its pioneering experience in issuing Bahrain's first sustainable sukuk. Infracorp took part in a panel discussion entitled 'Innovative Financing Instruments: SDG-Linked Bonds and Sukuk'. Ms. Zeeba Askar, Chief Sustainability and Investment Officer at Infracorp, delivered a presentation titled 'Bahrain's First Sustainable Sukuk'. She outlined the company's transition from green sukuk to a broader sustainable sukuk framework in line with international trends for financing projects with environmental and social impact. Ms. Askar confirmed that Infracorp's sustainable sukuk framework is fully aligned with the ICMA's Green, Social and Sustainability Bond Principles, supports Bahrain's Economic Vision 2030 and is consistent with the United Nations SDGs. She added that the framework's governance is underpinned by an independent, accredited external opinion to ensure transparency and credibility. The company has mapped key performance indicators, adopted a rigorous project-selection mechanism based on expected outcomes, and issues regular reports to measure each project's environmental and social impact. Commenting on the occasion, Ms Askar said: 'Our objective went beyond issuing a conventional finance instrument; it was about setting a standard for what a Sustainable Sukuk should represent. We carefully built a framework aligned with Bahrain's Economic Vision 2030 and the UN Sustainable Development Goals, with measurable KPIs mapped across every eligible project. The result is a Sukuk rooted in transparency, governed by rigor, and driven by real-world impact.' The workshop highlighted Bahrain's leading efforts in development finance, including Islamic finance, SDG-linked bonds and the fintech sector, ahead of the fourth International Conference on Financing for Development (FfD4), scheduled to take place in Seville, Spain, from June 30 to July 3, 2025. It brought together UN officials, public-sector representatives and private-sector partners to discuss the Kingdom's participation in the conference. FfD4 will serve as a pivotal platform to assess progress on global commitments to finance sustainable development and to address challenges that have emerged since the adoption of the Addis Ababa Action Agenda in 2015. The conference will gather high-level representatives from governments, international and regional organisations, financial and commercial institutions, the private sector, civil society and the United Nations system.
