ICD to Lead Key Discussions on Sustainable Development and Green Finance at COP29

The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group, hosted several high-level sessions at COP29 in Baku, Azerbaijan, focusing on sustainable economic development, climate finance and the role of private sector partnerships in promoting green growth.

On 18 November, ICD organized a session on Financing Women- and Youth-Led Businesses in Post-Conflict Regions. Eng. Hani Salem Sonbol, Acting CEO of ICD, opened the session by emphasizing the importance of inclusive finance as a driver of long-term peace and stability.

Keynote addresses were delivered by Ms. Nigar Arpadurai, Climate Champion for the Azerbaijani COP29 Presidency and Member of Parliament of Azerbaijan, and Dr. Emin Huseynov, Special Representative of the President of Azerbaijan, and the panelists included prominent experts, including Dr. Sahar Nasr, Executive Director of the Zakat and Charity Fund of Egypt; Ms. Gali Hajiyeva, Executive Director of AMFA Azerbaijan; Dr. Alvin Effendi, Director of Corporate Strategy and Research at ICD, and Ms. Dayanat Sadulayev, Executive Vice President of Pasha Holding and President of the American Chamber of Commerce in Azerbaijan, spoke about how to overcome the challenges faced by women and youth in accessing finance. In addition to this session, ICD organized two keynote sessions at COP29. The first session, on November 16, was a panel discussion exploring how to better leverage multilateral climate funds to support sustainable development projects through public-private partnerships. The panel discussion featured experts such as Dr. Mohammed Alyami, Director General of the Development Effectiveness Office at ICD, and Mr. David Dodd, CEO of the International Centre for Sustainability Resilience; The second session addressed the role of financial institutions in promoting green finance and enhancing environmental sustainability. The seminar was attended by Dr. Fatih Yilmaz, Senior Fellow at the KAPSARC Center in Saudi Arabia, along with key industry leaders such as Mr. Shahin Mahmudzadeh, Executive Director of the Central Bank of Azerbaijan, Dr. Alvin Efendi, Director of Corporate Strategy and Research at the Islamic Corporation for the Development of the Private Sector, and Mr. Nabil Kadri, Managing Director at the Brazilian Social Development Bank. ICD’s active participation in COP29 highlights its commitment to promoting sustainable development, enhancing green finance, and empowering marginalized communities. Through collaborative initiatives and partnerships, ICD continues to support the role of the private sector in achieving sustainable development.