- 11 additional entities join the commitment to advancing UAE sustainability agenda
11 additional private and public UAE entities signed the pioneering Abu Dhabi Sustainable Finance Declaration, signifying their joint commitment in promoting the health, sustainability and development of the UAE’s economy. Championed by Abu Dhabi Global Market (ADGM), the declaration underwent its inaugural round of signatories at last year’s inaugural ADSFF. The declaration’s saw the second round of signatories during the second edition of the Abu Dhabi Sustainable Finance Forum this year, held in conjunction with Abu Dhabi Sustainability Week.
The objectives of the declaration include developing a collaborative framework that incorporates and fosters sustainable investments in Abu Dhabi, the UAE and the wider region. As part of the declaration, the UAE Insurance Authority, the Central Bank, the Securities and Commodities Authority and ADGM will play a facilitative role in working with the members to boost investment flows and support the various agreed provisions.
The various signatories of the declaration have forged their commitment to furthering the UAE’s sustainability footprint and ensuring the longevity of the UAE’s economy. The authorities’ dedication to the adherence of sustainable practices being placed at the forefront of their respective strategic agendas was highlighted in the declaration. ADGM has initiated the establishment of the declaration as a physical representation of its commitment to collaborating with other prominent public and private entities in support of the UAE Vision 2021 and the UAE Green Agenda.
The declaration also outlines the various entities’ efforts made towards creating a framework that fosters green investments in the UAE and facilitates a constructive dialogue regarding sustainable finance among the financial community. To actively encourage sustainable practices within the UAE’s financial sector, the signatories of the declaration will encourage educational opportunities, raise awareness, foster cooperation between relevant stakeholders and ensure regular meetings to assess and track their relative progress.
ADSFF hosted a myriad of speakers, including H.E. Ahmed Ali Al Sayegh, Minister of State and Chairman of ADGM; The Right Honourable The Lord Mayor of the City of London Alderman William Russell; Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, CEO of Alliances for Global Sustainability and Founder of the Circle of Hope Foundation; H.E. Dr. Thani Al Zeyoudi, Minister of Climate Change and Environment; Laurent Fabius, President of the COP21; H.E. Salama Al Ameemi, Director General of the Abu Dhabi Authority for Social Contribution (Ma’an); Ahmed Jasim Al Zaabi, Group CFO of ADNOC Group, and many other world leaders.
Amidst the key addresses, panel discussions and live ceremonies held at the forum, ADGM also made a number of key announcements during the event, in addition to the second round of signatories of the Abu Dhabi Sustainable Finance Declaration, such as the progress made to Abu Dhabi’s Sustainable Finance Agenda and the reveal of the newly published UAE Sustainable Finance Guiding Principles.
APPENDIX: Second Round of Signatories of the Abu Dhabi Sustainable Finance Declaration
- Department of Energy
- Department of Municipalities and Transport
- Emirates Nuclear Energy Corporation
- Environment Agency - Abu Dhabi
- Standard Chartered Bank
- Abu Dhabi Islamic Bank
- Ma'an Authority for Social Contribution
- Insurance Authority
- Abu Dhabi University
- Alliances for Global Sustainability
About Abu Dhabi Global Market (ADGM)
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by a UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global trade and business hub serving as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored by Abu Dhabi’s key strengths panning over private banking, wealth management, asset management, derivatives and commodities trading, financial innovation, sustainability and more. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as an IFC governs the entire 114 hectares (1.14sqkm) of Al Maryah Island which is a designated financial free zone.
It enables registered financial and non-financial institutions, companies and entities to operate, innovate and succeed within an international regulatory framework based on common law. Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for four consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*
For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)
* Source: The Global Investor Middle East and North Africa (MENA) Awards
© Press Release 2020