UAE Ministry of Climate Change and ADGM sign MoU on sustainable finance

MoU aims to attract investment, develop legislative environment for sustainable finance sector

The MoU was signed on the sidelines of the Abu Dhabi Climate Meeting.
The MoU was signed on the sidelines of the Abu Dhabi Climate Meeting.

The UAE Ministry of Climate Change has partnered with Abu Dhabi’s financial centre to promote sustainable finance.

The Ministry of Climate Change and Environment (MOCCAE) and the Abu Dhabi Global Market (ADGM) signed an MoU to attract private investment and support new technologies in the sphere, and to develop information sharing and legislative and regulatory framework for sustainable finance.

The Memorandum of Understanding, MoU, was signed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and Ahmed Ali Al Sayegh, Minister of State and Chairman of ADGM, on the sidelines of the Abu Dhabi Climate Meeting.

Commenting on the signing, Dr Al Zeyoudi said: “I’m delighted that today we have made a huge step in advancing our response to climate change with this new partnership with the ADGM free zone. We know that climate action makes economic sense; and as we grow our financial services industry here in the UAE we are determined to do so sustainably.

“And so today we make Abu Dhabi the go-to, natural, professional environment for clean technology and say to potential investors: we are open for conversations about how our frameworks and capacity can support you, see what we have to offer.”

Al Sayegh added: “Over the years, the UAE Government has taken bold and firm steps to establish and maintain a sustainable economy and environment for our future generations.

“As an International Financial Centre, Abu Dhabi Global Market plays an active role in supporting and enabling our industries, the financial sector and the overall economy to achieve their goals and enjoy sustainable growth for the long term. We are pleased to work closely with the Ministry of Climate Change and Environment and like-minded partners on greater adoption of clean technology, green solutions and sustainable finance in our marketplace and across the region.”

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