Investment Migration Emerges as Key Climate Finance Solution at COP29

LONDON,Nov. 19, 2024/PRNewswire/ -- As world leaders atCOP29in Baku grapple with the challenge of mobilizingUSD 1 trillionannually in climate finance,investment migrationhas emerged as an innovative financing solution for climate-vulnerable nations. This will be a central focus at the upcoming18^thGlobal Citizenship ConferenceinSingaporenext week, where government leaders and investment migration experts will explore howcitizenshipandresidenceby investment programs can provide immediate, debt-free climate funding for Small Island Developing States (SIDS).

The Pacific island nation ofNaurulast week launched the groundbreakingNauru Economic and Climate Resilience Citizenship Program— the world's first citizenship program specifically designed to address climate change challenges, reflecting a new financing model for integrating economic development and climate solutions. It represents an emerging trend, whereby countries access private sector funding for urgent climate adaptation projects by offering residence rights or citizenship in return.

Speaking after the program's launch atCOP29inBaku, H.E. David Adeang, President of the Republic ofNauru, emphasized the transformative potential of investment migration."It provides small and vulnerable nations like ours with a powerful mechanism to mitigate sustainability risks and enhance climate resilience. Our citizenship program sets a new standard in this regard, channelling investments directly into projects that safeguard our nation's future and contribute towards safeguarding key global biodiversity hotspots."

International investment migration advisory firmHenley& Partnerswas mandated by the Government ofNauruto design, implement, and promote the program. Speaking atCOP29,Dr.Christian H. Kaelin, Chairman of Henley& Partners, highlighted investment migration's unique advantage."The programs offer more than economic benefits. They attract global citizens who are committed to environmental sustainability, thereby fostering a network of advocates invested in the future of vulnerable regions."

More than 400 delegates from over 50 countries are expected to attend the 18^th annual Global Citizenship Conference, which takes place 27–29 November inSingapore. The Hon.Mohamed Nasheed, Secretary-General of theClimate Vulnerable Forum, representing 70 climate-vulnerable nations, will address the conference and underscored the ethical obligation at hand:"Those with wealth and global mobility are uniquely positioned to act, carrying a duty to future generations to protect the planet. The concept of'climate justice'emphasizes this responsibility, as developing nations — many of which contribute the least to emissions — are often the hardest hit by the impacts of climate change."

To strengthen its advisory capabilities in this rapidly evolving space, Henley& Partners has  appointedJean Paul Fabrias its Chief Economist. Fabri brings extensive experience in advising governments on economic development and climate resilience."For wealthy individuals, investing in climate finance is not just an ethical duty; it's also a significant economic opportunity. The green economy offers promising avenues for impactful investment, from renewable energy and sustainable agriculture to cutting-edge green technologies."

Read the full press releasehere.

SOURCE Henley& Partners