Page 7 - NYY Muscat Call 2022 April 24
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Acceptance is required, that humans, culture, collaboration, and governance are central

               to  sustainability,  necessitating that  responsive  actions need to  be devised and
               implemented accordingly.



                            2.3    Recognizing that resources must go where the action must be


               The systemic crisis must be met on the ground.  Where urgent action must happen, resources
               and capacity building  must reach!  How  to  channel  resources  accordingly  goes beyond

               multilateral bodies, or government-to-government debate. Increasing pressures have led more

               than half the world’s corporate assets to become ESG compliant, with real consequences for
               the  cost  of  capital,  debt  as  well as equity,  worldwide.  Frameworks such  as  SASB

               (Sustainability Accounting Standards  Body), GRI (Global Reporting  Initiative) and TCFD

               (Task  Force on Climate-related  Financial  Disclosures) provide  guidance,  set  standards for
               financially relevant sustainability information,  with  implications  for the interface between

               corporates and investors. Yet, the relevance of all this is questionable. Sharper guidance and
               motivations need to be framed for the financial and corporate sectors to meet with the real

               needs and efforts of achieving sustainability on the ground.


               The challenges  of finance need to  be tackled  by  developing and implementing

               mechanisms capable of fixing today’s disconnect between pledges to investment “green”

               and what real impacts appear on the ground. We intend to propel a process engaging
               key actors and stakeholders in bringing about a changed dynamic.


                                  2.4    Identifying and building on solutions at hand


               After decades  of  globalisation, we currently experience a state  of  fractionalisation,

               dismantling of supply chains,  and new  ‘cold  wars’ between nations,  making addressing

               global challenges  collectively looking both  a necessity  and an impossibility. The creative
               scope and reach of human  ingenuity keep advancing tirelessly  as  observed every day, in

               many instances  nurturing nature and humanity side-by-side. These abilities and efforts  are

               held  back by rigidities  and barriers,  however.  Enhanced communication and cooperation,








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