Simon Stiell

Creating a Cleaner Future | Global Conference 2025

Majid Al Suwaidi, Simon Stiell, Gillian Tett

A high-level panel led by UNFCCC's Simon Steele and World Bank President Ajay Banga analyzes the shift from a 5°C to a 3°C warming trajectory while highlighting the UAE's $30 billion Altera Fund as a critical mechanism to mobilize $250 billion in external capital for the Global South. Speakers including Majid Al-Sawadi argue that despite US policy vacuums and Western political headwinds, global decarbonization remains economically locked in through blended finance structures that leverage concessional and private capital. The consensus affirms that the 1.5°C target remains scientifically viable but necessitates immediate, accelerated action across mitigation, adaptation, and loss-and-damage pillars to address the growing supply-demand gap for clean solutions.