UAE’s retail investors can raise Dh367b for ESG funding

UAE’s retail investors can raise Dh367b for ESG funding

A new research by Standard Chartered also identified over Dh30 trillion of investable retail wealth that could be channelled into sustainable investments by 2030 to finance ESG objectives in 10 growth markets

An estimated investment of over Dh600 billion is required in the UAE's renewable energy as the nation pivots its economy to net zero in 28 years. — File photo

Published: Thu 6 Oct 2022, 5:53 PM

Retail investors in the UAE have the potential to mobilise more than Dh367 billion towards top environmental, social and governance (ESG) priorities, particularly the financing of climate transition to net zero, Standard Chartered said on Thursday.

A new research by Standard Chartered also identified over Dh30 trillion of investable retail wealth that could be channelled into sustainable investments by 2030 to finance ESG objectives in 10 growth markets.

The UAE seeks to become a net zero nation by 2050, the first Middle East and North Africa nation to do so. To achieve climate neutrality by 2050, the UAE is developing an approach that drives sustainable economic growth. An estimated investment of over Dh600 billion is required in renewable energy as the nation pivots its economy to net zero in 28 years.

The bank’s Sustainable Banking Report 2022 titled