IRENA, ADGM partner to promote sustainable finance in the region

Both entities to promote solutions that facilitate investment in renewable energy

  
Image used for illustrative purpose. Wind turbines spin at a windpark on October 17, 2012 near Neubrandenburg, Germany. Germany's electricity network operators recently announced that they will raise the charge to consumers for subsidizing renewable energy investments by 50%.

Image used for illustrative purpose. Wind turbines spin at a windpark on October 17, 2012 near Neubrandenburg, Germany. Germany's electricity network operators recently announced that they will raise the charge to consumers for subsidizing renewable energy investments by 50%.

Getty Images/Sean Gallup

The International Renewable Energy Agency (IRENA) and Abu Dhabi Global Market (ADGM) have signed a Memorandum of understanding (MoU) to promote sustainable finance across the UAE and the wider region.

The agreement was signed by Dhaher bin Dhaher, CEO of the ADGM Registration Authority, and Francesco La Camera, Director-General of IRENA.

Both entities are headquartered in the UAE capital Abu Dhabi.

A press statement by IRENA said the two organisations have committed to engage with one another to facilitate investment in renewable energy, support in the development of a sustainable finance ecosystem that is inclusive of renewable energy, support ongoing initiatives relating to sustainability, and mutually promote their respective platforms.

ADGM’s sustainability initiatives include the flagship Abu Dhabi Sustainable Finance Forum, the UAE Guiding Principles and the Abu Dhabi Sustainable Finance Declaration.

(Writing by Anoop Menon; Editing by Seban Scaria)

(anoop.menon@refinitiv.com)

#IRENA #ADGM #Sustainable Finance #UAE

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