LONDON, Nov. 19, 2024 — With world leaders at COP29 in Baku striving to secure USD 1 trillion annually for climate action, investment migration has emerged as a novel funding solution for nations vulnerable to climate change. This will be a key topic at the upcoming Global Residence and Citizenship Conference in Singapore next week, where government officials and investment migration specialists will discuss how residence and citizenship programs can provide immediate, debt-free climate funding to Small Island Developing States (SIDS).
The Pacific island nation of Nauru recently introduced a pioneering citizenship program – the world’s first specifically designed to tackle climate change challenges, showcasing a new model for combining economic growth and climate solutions. This exemplifies a growing trend of countries leveraging private investment for urgent climate adaptation projects by offering residency or citizenship in exchange.
Following the program’s launch at COP29 in Baku, H.E. David Adeang, President of the Republic of Nauru, highlighted investment migration’s transformative potential. “It offers small, vulnerable nations like ours a powerful tool to lessen sustainability risks and build climate resilience. Our citizenship program sets a new standard, directing investments into projects safeguarding our future and contributing to the protection of crucial global biodiversity hotspots.”
Henley & Partners, an international investment migration advisory firm, was appointed by the Government of Nauru to create, implement, and promote the program. Speaking at COP29, Juerg Steffen, Chairman of Henley & Partners, emphasized investment migration’s unique benefit. “These programs offer more than just financial gains. They draw in global citizens committed to environmental sustainability, creating a network of advocates invested in the future of vulnerable regions.”
Over 400 delegates from more than 50 countries are expected at the Global Residence and Citizenship Conference, taking place from 27–29 November in Singapore. The Hon. Mohamed Nasheed, Secretary-General of the Climate Vulnerable Forum, representing 70 climate-vulnerable nations, will address the conference and stressed the ethical responsibility involved: “Those with wealth and global mobility are uniquely positioned to act, holding a duty to future generations to protect the planet. The concept of ‘climate justice’ highlights this responsibility, as developing nations — many of which contribute least to emissions — often bear the brunt of climate change impacts.”
To enhance its advisory services in this rapidly evolving field, Henley & Partners has appointed Dr. Andrew Fabri as its Chief Economist. Fabri brings extensive experience advising governments on economic development and climate resilience. “For high-net-worth individuals, investing in climate finance is not merely an ethical imperative; it’s also a significant economic opportunity. The green economy presents promising avenues for impactful investment, ranging from renewable energy and sustainable agriculture to cutting-edge green technologies.”
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SOURCE Henley & Partners
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