DIFC hosts first finance summit to advance COP28 climate agenda

DIFC hosts first finance summit to advance COP28 climate agenda

DUBAI: Dubai International Financial Centre hosted the first summit dedicated to advancing the COP28 climate action agenda in the global finance industry, Emirates News Agency reported on Thursday.

More than 500 people attended the first of a series of finance summits to spur proactive action in the industry to lead the charge on climate change and accelerate the green transition.

The event featured a panel of speakers from leading investment firms, banks and financial service providers, who discussed the sector’s COP28 priorities and how to implement best practice decision-making across their organizations.

The summit was presided over by Dame Heather McGregor, who wrote columns in the Financial Times under the name Mrs Moneypenny from 1999-2016.

Simon Thompson, author of “Green and Sustainable Finance” and CEO of the Chartered Banker Institute, discussed how finance can power the green transition by ensuring capital flows to firms, investments, projects and technologies working to create a sustainable, low-carbon world.

Senior executives from ING, Zurich Insurance, and NatWest Group also discussed their commitment to achieving net zero.

At the event, the findings of the first Global Islamic Finance Retail Banking Survey and their implications for the UN Sustainable Development Goals (SDGs) were released.

According to the survey, 90 percent of Islamic banking