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Abu Dhabi Sustainable Finance Forum Marks the Conclusion of ADFW 2024
This year's ADSFF involved strategic and high-level discussions on achieving not just the UAE's net-zero ambitions, but also contributing to the world's transition to a sustainable future, further positioning Abu Dhabi and ADGM as leaders in building a long-term momentum for sustainable finance.
, President and CEO of the UAE Independent Climate Change Accelerators, delivered a keynote address, emphasising the UAE's leadership role in climate action and the need for collaborative approaches to effectively address environmental challenges through blended finance.
, led an insightful fireside chat with the on the launch of the world's largest climate fund, its progress to date and how it is mobilizing capital alongside its partners in the session, 'Catalysing the Future: Abu Dhabi's Bold Vision to Become A Global Climate Finance Hub'.
The ADSFF agenda also explored a range of pressing topics in sustainable finance and environmental governance. A notable session was a keynote speech from , where she highlighted the UN's advancements in setting international rules for AI. , who leads the initiative for establishing a global rulebook on AI cooperation, highlighted AI's potential to address global challenges, emphasising the importance of integrating ethical considerations alongside the pursuit of Sustainable Development Goals.
In his welcome address, , highlighted ADGM's initiatives on sustainable finance, reiterating its strategic mission to be a catalyst in the Capital of Green Capital. said, "At ADGM, we position ourselves as a key driver in the UAE's path towards achieving net-zero emissions by 2050, offering an ecosystem supported by a comprehensive regulatory framework that promotes sustainable finance and climate transition. We also encourage public and private sectors to collaborate in bridging the green financing gap, accelerating the transition to net-zero, and shaping the sustainable financial landscape of the future."
"The success of ADSFF is a testament to its relevance in driving knowledge, providing insights and building partnerships in the financial sector role to tackle climate change," he remarked.
Senior representatives of the global banking group, HSBC, highlighted the current global climate economy and shared HSBC's strategies to mobilise finance and promote innovation that aligns with science-based targets to limit global temperature rises to 1.5°C. In a panel discussion on impactful investing, panellists examined how private capital flows into environmentally beneficial projects and questioned the current ecosystem's effectiveness in creating measurable impact.
Carbon markets and their evolution were also a major focus, with experts from Climate Finance Partners, the Financial Services Regulatory Authority (FRSA) of ADGM, Offset8 Capital and GIGATONS addressing the possible use of carbon credits as a means to finance climate change and achieve national targets.
Renewable energy, another key topic, discussed the International Energy Association's (IEA) prediction of accelerated growth in renewables over the next five years. Experts from Smartenergy, Hudson Sustainable Group, Stonepeak and Vortex Energy shared insights into emerging opportunities in renewable markets
ADSFF also for the Abu Dhabi Sustainable Finance Declaration, a platform for the signatories to engage directly with ADGM, and to collaborate on best practices, innovative solutions and commercial offerings within sustainability. With this addition, the total number of members who signed the declaration has grown to 160 signatories.
The Women in Finance conference was another significant event to mark the last day of ADSFF. It gathered highly accomplished women in the financial sector such as Martina Strong – Ambassador of the Embassy of the United States of America to the UAE, Dr. Alyazia Al Kuwaiti - Executive Director – UAE Industries at Mubadala Investment Company, Madiha Sattar - MD, Growth Ventures Partner at BNY, Amna Ajmal – EVP of Mastercard and Rania Fathallah - Managing Director - Private Credit at Franklin Templeton who delivered inspirational speeches and fostered meaningful connections.
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