UAE records 32% growth in green, sustainable finance

UAE records 32% growth in green, sustainable finance

DUBAI - The UAE witnessed a 32 percent year-on-year (YoY) growth in its 2022 green and sustainable finance issuing, a new report by leading consulting firm Arthur D. Little showed.

Between 2019 and 2022, the UAE recorded increasing environmental, social, and corporate governance (ESG) reporting across major public and private institutions such as Dubai Financial Market, Ministry of Climate Change and Environment and publicly listed companies in Securities and Commodities Authority (SCA).

Published under the title “Middle East Banks drive growth in ESG finance, face calls for ESG strategy,” Arthur D. Little offers a two-part tailored and scalable solution for complex data to enable banks to efficiently manage ESG information in the UAE. The Viewpoint reviews the impacts of recent and expected disruptions, and explores options for banks to strengthen and grow their ESG strategies.

Financial institutions in the Middle East and North Africa (MENA) have adopted ESG as a key strategic element in their commitment to going green. As more reporting requirements become mandatory, and stakeholders determine the need for a comprehensive approach to ESG, these institutions have responded by shifting their focus from defining an ESG strategy to implementing it, with data governance playing a key role.

An impressive US$24.55 billion in