UAE National Banks’ pledge to mobilise over AED 1trln in sustainable finance, reaffirming UAE leadership’s goals: UBF

UAE National Banks’ pledge to mobilise over AED 1trln in sustainable finance, reaffirming UAE leadership’s goals: UBF

Abu Dhabi, United Arab Emirates: UAE Banks Federation (UBF), the sole representative and unified voice of banks in the UAE, reaffirmed its commitment to support UAE’s goals by pledging to mobilise over AED 1 trillion, which represents more than US$ 270 billion, in sustainable finance by the year 2030. His Excellency Abdulaziz Al-Ghurair, Chairman of UAE Banks Federation, announced the pledge at an event organised jointly by Central Bank of the UAE with the COP28 Presidency to support and facilitate global climate finance solutions and progress towards a sustainable future. Commenting on the development, Mr. Jamal Saleh, Director General of UAE Banks Federation, said, “The pledge made today by our UBF Chairman, H.E. Abdulaziz Al-Ghurair, to mobilise over AED 1 trillion in sustainable finance, represents the collective efforts of our leading national member banks and is a true testament to our financial sector’s commitment to and support of building a better future. UAE Banks Federation, being the active representative of UAE banks, has been working closely with its partners on sustainability efforts to accelerate and advance sustainable development goals. Six of our UBF member banks have already taken significant strides in this regard, with over AED 190 billion (USD 52 billion)