ABU DHABIUnited Arab Emirates, December 12, 2024 /PRNewswire/ — ADGM, the international financial center (IFC) of Abu Dhabiin partnership with Global Climate Finance Center (GCFC), HSBC and Smartenergy, today hosted the 7th edition of the Abu Dhabi Sustainable Finance Forum (ADSFF) to close the Abu Dhabi Finance Week (ADFW).
Marking exactly one year since the end of COP28 and a few weeks later COP29ADSFF highlighted its strong commitment to covering critical conversations on sustainable financial development, providing an interactive and global platform for discussions on regulation, awareness and collaboration.
This year’s ADSFF involved strategic and high-level discussions on achieving not only the UAE’s net zero emissions ambitions, but also contributing to the global transition to a sustainable future, better positioning Abu Dhabi and ADGM as leaders in creating long-term momentum for sustainable finance.
Her Highness Sheikha Shamma bint Sultan bin Khalifa Al NahyanChairman and CEO of the UAE Independent Climate Change Accelerators, delivered a keynote speech, highlighting the UAE’s leading role in climate action and the need for collaborative approaches to effectively address environmental challenges through mixed financing.
HE Majid Al SuwaidiCEO of Alterraled an insightful fireside chat with the CEO of GCFC, Mercedes Vela Monserrate on the launch of the world’s largest climate fund, its progress to date and how it is mobilizing capital alongside its partners during the session “Catalyzing the Future: that of Abu Dhabi Bold vision to become a global center for climate finance.”
The ADSFF agenda also explored a range of pressing topics in sustainable finance and environmental governance. A notable session was the opening speech of Carme Artigas Brugalco-chair of the United Nations AI Advisory Councilwhere she highlighted the progress the UN has made in establishing international rules for AI. Artigaswho leads the initiative to establish a global regulation on AI cooperation, highlighted the potential of AI to address global challenges, emphasizing the importance of integrating ethical considerations alongside the pursuit of goals of sustainable development.
In his welcome speech, Emmanuel Givanakis, CEO of the Financial Services Regulatory Authority at ADGMhighlighted ADGM’s initiatives in sustainable finance, reiterating its strategic mission to be a catalyst in the Green Capital Capital. Givanakis said: “At ADGM, we are positioning ourselves as a key driver on the UAE’s path towards achieving net zero emissions by 2050, providing an ecosystem supported by a comprehensive regulatory framework that promotes sustainable finance and the climate transition. We also encourage the public and private sectors. collaborate to close the green financing gap, accelerate the transition to carbon neutrality and shape the sustainable financial landscape of the future. »
“The success of the ADSFF demonstrates its relevance in transmitting knowledge, providing information and creating partnerships in the role of the financial sector in combating climate change,” he noted.
Senior representatives from global banking group HSBC highlighted today’s global climate economy and shared HSBC’s strategies to mobilize finance and promote innovation that aligns with science-based goals to limit increases in climate change. global temperature at 1.5°C. During a roundtable on impact investing, panelists Fabrice Dumonteil – Chairman and CEO of Eiffel Investment Group, Jérôme de Bontin – Partner at Capricorn Investment Group, Jonathan Dean – Responsible for managing Impact Private Equity funds at AXA IM Alts and Ewa Jackson– Managing Director and Head of Climate Products at Apollo Global Management examined how private capital invests in environmentally beneficial projects and questioned the effectiveness of the current ecosystem in creating measurable impact.
Carbon markets and their evolution were also in focus, with experts from Climate Finance Partners, ADGM’s Financial Services Regulatory Authority (FRSA), Offset8 Capital and GIGATONS discussing the possible use of credits carbon as a means of financing climate change and achieving national objectives. targets.
Renewable energy, another key topic, discussed the International Energy Association’s (IEA) forecast for accelerated growth in renewable energy over the next five years. Experts from Smartenergy, Hudson Sustainable Group, Stonepeak and Vortex Energy shared their views on emerging opportunities in renewable energy markets
ADSFF also saw 44 new signatories for the Abu Dhabi Declaration on Sustainable Finance, a platform for signatories to engage directly with ADGM and collaborate on best practices, innovative solutions and business offerings on sustainability. With this addition, the total number of members having signed the declaration increased to 160 signatories.
The Women in Finance conference was another important event to mark the final day of the ADSFF. It brought together highly accomplished women in the financial sector such as Martina Strong – Ambassador of the Embassy of the United States of America in the UAE, Dr. Alyazia Al Kuwait – Executive Director – UAE Industries at Mubadala Investment Company, Madiha Sattar – MD, Growth Ventures Partner at BNY, Amna Ajmal – Executive Vice President of Mastercard and Rania Fathallah – Managing Director – Private Credit at Franklin Templeton, who delivered inspiring speeches and fostered meaningful connections.
SOURCE ADGM
