The Banking Executive Magazine - November 2024

COP 16 in Riyadh tion. It was an important and crucial event for global environmental ef- forts. The agenda for COP 16 in Riyadh was quite comprehensive and innovative. Key activities in- cluded: Negotiation Track This included ministerial dialogues that involved discussions on drought resilience, finance, and migration. It also included critical decisions that focused on advancing global land and drought resilience through polit- ical declarations. Action Agenda This included thematic days. Each day focused on a specific theme to drive action and collaboration as fol- lows: • Land day: to address the role of healthy land in combating climate change, creating jobs, and reduc- ing poverty. • Agri-food system day: for promot- ing sustainable farming for resilient crops and ecosystem protection. • Governance day: for inclusive land governance. • People’s day: to address the role of youth, women, and civil society in decision-making. • Science, Technology, and Innova- tion Day: for exploring innovative solutions for land health. • Resilience day: to formulate poli- cies and approaches for climate re- silience. • Finance day: for funding innova- tions for land and drought re- silience. Additional Events There were also additional events in- cluding: • Saudi Green Initiative Forum: Running alongside COP 16, focus- ing on global climate challenges under the theme "Action is in Our Nature". • Green Zone: Engaging scientists, businesses, Non-Government Or- ganizations NGOs, and the public in collaborative efforts. COP 16 KEY PARTICIPANTS COP 16 in Riyadh attracted a diverse array of key participants, including: • Government Representatives: From 196 Countries and the Euro- pean Union. • United Nations Officials • Private Sector Leaders: including businesses and financial Institu- tions engaging in collaborative projects and innovative solutions for land restoration and drought re- silience • NGOs and Civil Society • Experts and Academics • Host Country Representatives from Saudi Arabian Officials These participants worked together to drive global action and collabora- tion towards sustainable land man- agement and drought resilience. THE WATER FOCUS AT COP 16 Water scarcity was a significant focus at COP 16 in Riyadh. The conference highlighted the critical role of water in combating desertification and land degradation. Key points addressed in the water focus included: Key Themes and Initiatives • Water Scarcity and Desertifica- tion: Addressing the link between water scarcity and land degrada- tion, emphasizing the need for sus- tainable water management practices. • Private Sector Involvement: Ex- ploring the role of the private sec- tor in innovative programs focused on water and food security. This in- cludes partnerships between busi- nesses, governments, and NGOs to implement best practices and col- laborative solutions. • National Water Strategy: Saudi Arabia's National Water Strategy aims to preserve water resources and promote sustainability through recycling projects and other initia- tives. Side Events and Discussions • Addressing Water Scarcity in the Arab World : A side event focusing on the role of the private sector in combating desertification through innovative water management pro- grams. • Ministerial Dialogues: Discussions on drought resilience and the im- portance of water in achieving land degradation neutrality targets. The conference aimed to foster inter- national collaboration and innova- tive solutions to tackle water scarcity and enhance drought resilience. It was a crucial step towards ensuring sustainable land and water manage- ment for future generations. ISSUE 190 NOVEMBER 2024 the BANKING EXECUTIVE 9