UAE National Banks’ sustainable finance pledge reaffirms leadership’s goals: UBF

UAE National Banks’ sustainable finance pledge reaffirms leadership’s goals: UBF

ABU DHABI - UAE Banks Federation (UBF) reaffirmed its commitment to support UAE’s goals by pledging to mobilise over AED 1 trillion in sustainable finance by the year 2030. 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, Jamal Saleh, Director-General of UBF, said, “The pledge made today by our UBF Chairman, 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 (US$ 52 billion) having been already targeted towards green projects, renewable energy, waste-to-energy, and green technologies. In addition, UBF is working closely on strengthening the principles and