UAE issues ‘High-Level Statement on Sustainable Finance’ to achieve goals

UAE issues ‘High-Level Statement on Sustainable Finance’ to achieve goals

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The UAE Sustainable Finance Working Group has issued a High-Level Statement on Sustainable Finance, detailing their commitment to achieving the UAE’s sustainability objectives and the Net-Zero 2050 ambition as the first country in the Middle East and North Africa (MENA) region.

The Statement was released on the sidelines of the 26th United Nations Climate Change Conference (COP26). ADGM heads the ‘UAE Sustainable Finance Working Group’, which will chart strategy plans for the country’s companies to offer more transparency on the Environmental Social and Governance (ESG) initiatives.

According to the statement, the UAE Sustainable Finance Working Group is now part of a larger forum aimed at accelerating the development of sustainable finance policies in the UAE. It includes the UAE Ministry of Economy, the UAE Ministry of Finance, the Office of the UAE’s Special Envoy for Climate Change, the UAE Ministry of Climate Change and Environment, the Central Bank of the UAE, the Securities and Commodities Authority, ADGM, the Dubai Financial Services Authority, the Abu Dhabi Securities Exchange, Dubai Financial Market, and Nasdaq Dubai.

The Statement sets a clear and necessary roadmap for the participating authorities to contribute to the UAE’s sustainable and climate change goals, as outlined in global frameworks such as