Statement by the Managing Director at the Opening of the 11th Meeting of the Working Group on Sustai

CHECK AGAINST DELIVERY STATEMENT BY AMBASSADOR SHEIKH MOHAMMED BELAL MANAGING DIRECTOR OF THE COMMON FUND FOR COMMODITIES AT THE OPENING OF THE 11th MEETING OF THE WORKING GROUP ON SUSTAINABLE FUND MANAGEMENT TELECONFERENCE, 17 JUNE 2021 Excellencies, Dear Colleagues Ladies and Gentlemen Excellencies; We are so grateful to you all for all the time that you have been investing in this initiative to. [...] I would like to pay special thanks to our Chair for brining to our attention the enormity of the challenges of COVID-10. [...] Two decades of progress in the reduction of extreme poverty, the elimination of which is one of the sustainable development goals, have been pushed into a sharp reverse by a combination of the impact of the COVID-19 pandemic, the growing climate emergency and increasing debt. [...] Just to give you an idea, a trillion dollar is equal to a distance of 96 million miles if placed in 100 dollar bills on top of the other – the same distance from the earth to the sun. [...] To make the best use of their ingenuity and potential, we need to make them a part of the value chain where not only productivity is engineered through eco-friendly means, it also helps them regain their sense of dignity by being a responsible part of the community.