(Pakistan Point News - 21st Jan, 2021) ABU DHABI, 20th January 2021 (WAM) - Abu Dhabi Global Market (ADGM) has successfully hosted the 3rd edition of its flagship event, the Abu Dhabi Sustainable Finance Forum (ADSFF), under the theme ‘Financing Sustainable Recovery and Future Resilience".
Held during Abu Dhabi Sustainability Week, the third edition shared recent actions that will support economic recovery and the rebuilding of global economies through a sustainable, resilient and equitable approach.
ADSFF witnessed the addition of five signatories to the Abu Dhabi Sustainable Finance Declaration, which is led by ADGM as a clear representation of its commitment to collaborating with other prominent public and private entities in support of the UAE’s Vision 2021 and the UAE Green Agenda. The signatories joined the panel of 41 public and private sector participants in solidifying their joint commitment to advancing the UAE’s sustainability agenda.
The Declaration outlines the efforts of all signatories toward creating a framework to foster positive economic, social and environmental initiatives and advocate for sustainable finance investments for the long-term well-being and growth of the economy of the UAE.
This year’s ADSFF also served as the background to several high-level announcements from ADGM and key stakeholders, including the launch of the UAE Sustainable Finance Framework 2021-2031. The landmark initiative pioneered by the Ministry of Climate Change and Environment (MOCCAE) aims to deepen cooperation between the public and private sectors, and create an improved, enabling environment to mainstream sustainable finance practices, resulting in greater volumes of climate and green investments within the UAE.
Dr. Abdullah Belhaif Al Nuaimi, UAE Minister of Climate Change and Environment, said: "MOCCAE is proud to announce the launch of the UAE Sustainable Finance Framework in partnership with ADGM. This national framework will support the mobilisation of private capital towards low-carbon, environmentally sustainable and climate-resilient investments. The government’s objectives for this framework are addressing existing gaps and challenges related to increasing the uptake of sustainable finance practices, creating incentives for adopting sustainable finance products and initiatives, and mitigating the risks facing the private sector.
"I thank everyone at ADGM who has contributed to the development of the UAE Sustainable Finance Framework, and all our partners who will play an integral role in its implementation."
Ahmed Ali Al Sayegh, Minister of State and Chairman of ADGM, said: "It is encouraging to see the growing importance of the Abu Dhabi Sustainable Finance Forum and the increasing support for the Declaration. Together with these 41 members and our partners, we hope to achieve even greater results and innovative projects that advance the UAE’s sustainability agenda and further the growth of our economy.
At ADGM, we will continue to place sustainable finance and relevant ESG-related practices at the forefront, to better serve the dynamic needs of its community in the UAE and across the middle East and Africa region."
The 3rd edition of ADSFF featured a stellar line up of speakers including Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Chief Executive Officer, Alliances for Global Sustainability, Ahmed Ali Al Sayegh, Minister of State and Chairman of ADGM, Dr. Tariq Bin Hendi, Director General, Abu Dhabi Investment Office, Dr. Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment, UAE, Salama Al Ameemi, Director General, Authority for Social Contribution – Ma’an, Mr. Pierre Gramegna, Minister of Finance of the Grand Duchy of Luxembourg, Ahmed Jasim Al Zaabi, Group Chief Financial Officer, ADNOC Group, The Right Honourable The Lord Mayor of the City of London Alderman William Russel, Mairead McGuinness, European Commissioner for Financial Stability, Financial Services and the Capital Markets Union, European Commission, Mark Carney, UN Special Envoy for Climate Action and Finance, and UK Prime Minister’s Finance Adviser for COP26; Guenther Thallinger, Member of the board of Management, Allianz SE, Chair, UN-Convened Net-Zero Asset Owner Alliance, Thomas Fekete, Head of Strategy and Products for Sustainable Investing EMEA, BlackRock, Nikita Singhal, Co-Head of Sustainable Investment & ESG, Lazard Asset Management, Antoine Sire, Head of Company Engagement, BNP Paribas, among many others.
During the event, ADGM showcased further progress towards Abu Dhabi’s Sustainable Finance Agenda, the work of its key partners and focus on sustainable economic recovery from a finance perspective. While senior representatives and decision makers , including government officials, banks, financial institutions, asset managers and their clients, consulting and advisory firms, regulators, SMEs and project owners participating in ADSFF, also engaged in a knowledge exchange on sustainable economic recovery across the globe.
