ADGM’s participation in COP27 is part of its role in supporting and promoting sustainability: Head of Sustainable Finance

ADGM’s participation in COP27 is part of its role in supporting and promoting sustainability: Head of Sustainable Finance

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SHARM EL SHEIKH, 11th November, 2022 (WAM) -- Mercedes Vela Monserrate, Head of Sustainable Finance at Abu Dhabi Global Market, has said that ADGM's participation in COP27 is part of this International Financial Centre leading role in supporting and promoting sustainability, and further underpinning its commitment to sustainable finance.

In an exclusive interview with the Emirates News Agency (WAM), Monserrate said, “This is a key focus area for ADGM, as a financial centre that supports capital formation, raising and deployment as well as the creation and issuance of products to achieve positive economic, social and environmental objectives.”

Speaking about climate action efforts and the achievement of climate neutrality goals in the UAE,

Monserrate said, “The UAE’s Net Zero Strategic Initiative will resonate widely by encouraging neighbouring countries to follow the same path, and by drawing attention to the UAE’s innovative approach to tackling climate challenges.

“As a hydrocarbon producing country, the UAE has an important role to play in the energy transition. Leaders in the MENA region should also work together to create ambitious regional targets. The UAE is a proven convener on the issue of climate and will build on this tradition to continue to push for bold climate action, including through COP28.”

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