The Central Bank of the United Arab Emirates (CBUAE), in collaboration with the COP28 Presidency, arranged an event on Monday to promote global climate finance solutions and advancements towards a sustainable future. The event coincided with the UAE’s hosting of COP28 .
The UAE Banks Federation announced during this international event a major endeavor by the UAE banking sector to mobilize over Dhs1 trillion in sustainable finance by 2030.
The event, which is scheduled for Finance Day at COP28, is in line with the CBUAE’s objective to spearhead initiatives in sustainable finance to support climate action. The panel included Mark Carney, the UN Special Envoy for Climate Action and Finance, Kristalina Georgieva, the Managing Director of the International Monetary Fund, and Ravi Menon, the Managing Director of the Monetary Authority of Singapore. It brought together global leaders of major international financial institutions to address global climate action and foster sustainable finance.
The governor of the CBUAE, Khaled Mohamed Balama, stressed the importance of the financial system in creating green and sustainable finance during his keynote speech. He focused on assuring the advancement of the financial sector, promoting creative solutions, and preserving resilience.
Also Read:
UAE Witnesses First Robot-Assisted Kidney Transplants
UAE’s Vice-President Encourages Nationwide Flag Hoisting on November 3
