The DFSA and the HKMA join efforts to accelerate sustainable finance across the Middle East and Asia

The DFSA and the HKMA join efforts to accelerate sustainable finance across the Middle East and Asia

Dubai and Hong Kong: The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority (HKMA) announced today a partnership aimed at exploring how to further develop policy and regulatory responses to support and enable climate finance in the Middle East and Asia.

Building on the long-standing relationship between the Dubai International Financial Centre (DIFC) and the HKMA, this new partnership aims to bolster cross-border collaboration to advance sustainable finance across the two regions and contribute to the net-zero transition. The DFSA and the HKMA have collaborated on numerous fronts, including fostering and supporting innovation in their respective markets. In December 2017, the DFSA signed a Cooperation Agreement with the HKMA to collaborate on financial innovation.

The flagship initiative of this partnership is the upcoming Joint Climate Finance Conference, set to take place in Hong Kong in autumn 2024. This event will explore common opportunities and challenges in accelerating the flow of transition financing in the Middle East and Asia. Discussions are expected to focus on the role of supervisors and central banks in facilitating sustainable capital flows, how best to leverage frameworks and existing and innovative green financing solutions (ranging from debt to carbon markets), and the importance of robust