The question of climate change and sustainability is omnipresent across the world. This presents a range of risks that will have a definite impact on our global economy.

As far as Belgian and Luxembourg businesses are concerned, they are well aware of the issue and tend to adapt to be more eco-friendly. This fits perfectly with the national visions of Arab countries, which - from hydrogen production to recycling and renewable energy, are pivoting toward green and sustainable economies.

Nevertheless, climate change brings huge challenges, but well-prepared businesses can also embrace opportunities.

Hence, the Arab-Belgian-Luxembourg Chamber of Commerce found it important to further investigate the question and provide appropriate responses to this major issue for businesses so as to enable them to take appropriate action.

And who better than the Governor of the National Bank of Belgium himself, His Excellency Pierre Wunsch, could give us a more valuable insight on the matter?

Thus on May 10, the Arab-Belgian-Luxembourg Chamber of Commerce organized a dinner-conference during which Governor Wunsch delivered a comprehensive presentation on “a (somewhat European) perspective on the macro impact of climate change”. During his presentation, Governor Wunsch underlined the fact that we are moving on the climate front from the discussion “should we do it and how” to “doing it”; we are no longer at the reflection stage, we are moving towards net-zero emissions in 2050.

“In addition to higher carbon prices, there are ever more regulations coming and the question is “what’s going to be the impact of that on the economy?”. There is a lot of concern about this but there is a growing consensus that, regarding the cost of transition, the impact is not that bad. On that front my message would be reassuring”, said Governor Wunsch.

Governor Wunsch’s expert analysis was followed by a constructive exchange, moderated by Qaisar Hijazin, Secretary General of the ABLCC, between HE Pierre Wunsch and two central figures from the Belgian economic scene: René Branders, President of VBO-FEB, and Nabil Jijakli, Group Deputy CEO at CREDENDO.

This diner-conference went way beyond the simple fact of increasing the knowledge of our attendees on a highly topical issue. It was also a great occasion for them to meet face-to-face with our experts as well as to expand their network as it gathered around 70 people among which 15 Ambassadors and representatives from Arab Embassies.