25 Public, Private Entities Commit To Abu Dhabi Sustainable Finance Declaration

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 16th Jan, 2019) In the presence of H.H. Sheikh Hamed bin Zayed Al Nahyan, Chairman of Crown Prince Court and Managing Director of Abu Dhabi Investment Authority, the Abu Dhabi Sustainable Finance Declaration was signed by 25 public and private sector entities at the inaugural Abu Dhabi Sustainable Finance Forum, ADSFF, today, as a united front to foster positive economic, social and environmental impacts and advocate sustainable finance and investments for the long-term well-being and growth of the country’s economy.

The declaration, initiated by the Abu Dhabi Global Market, ADGM, is an extension of the continuing cooperation among government, regulators and key UAE and international institutions to establish a healthy sustainable finance industry that supports the UAE in attaining the United Nations Sustainable Development Goals.

The objectives of the declaration include developing a collaborative framework that incorporates and fosters green and sustainable investments in Abu Dhabi, the UAE and the wider region. As part of the declaration, the Central Bank of the UAE, the Securities and Commodities Authority and the ADGM will play a facilitative role in working with the members to boost investment flows and support the various agreed provisions. The declaration also entails educating stakeholders, investors, and the public on the importance of environmental protection and sustainability, as well as identifying innovative solutions for positive economic, social and environmental development in Abu Dhabi and beyond.

Ahmed Ali Al Sayegh, Minister of State and Chairman of Abu Dhabi Global Market said, "We are honoured that H.H. Sheikh Hamed bin Zayed Al Nahyan, Chairman of Crown Prince Court and Managing Director of Abu Dhabi Investment Authority was present at the announcement of the Abu Dhabi Sustainable Declaration held at the Abu Dhabi Sustainable Finance Forum. We are encouraged to have such positive support from the government bodies, regulators and key institutions to each play a part in fortifying UAE’s commitment towards a healthy and sustainable economy.

Together, we aim to foster closer cooperation between the public and private sectors to develop innovative solutions and offerings that will attract and integrate sustainable and green investments. We will explore all avenues to enable financing of projects and initiatives that strengthen Abu Dhabi’s sustainable financial industry and support the UAE Vision 2021 and the UAE Green Agenda."

The ADGM is closely aligned to the UAE’s initiatives, supporting Abu Dhabi, the UAE and global stakeholders in achieving the United Nations Agenda for Sustainable Development and established national climate change objectives. The Abu Dhabi Sustainable Finance Declaration is one of the several initiatives by the ADGM to establish a vibrant and thriving sustainable finance hub that supports capital formation, raising and deployment as well as the creation and issuance of innovative products to achieve positive economic, social and environmental objectives. The ADGM announced its commitment to driving sustainable finance and investment in November 2018.'' Signatories of the Abu Dhabi Sustainable Finance Declaration are the Central Bank of the UAE, Ministry of Energy and Industry, Securities and Commodities Authority, Abu Dhabi Department of Economic Development, Abu Dhabi Department of Finance, Mubadala Group, ADNOC, Abu Dhabi Future Energy Company PJSC – Masdar, Abu Dhabi Global Market, Abu Dhabi Securities Exchange, Abu Dhabi Fund for Development, Etihad Aviation Group, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Al Hilal Bank, Abu Dhabi Financial Group, BNP Paribas S.A., Citibank, N.A., HSBC Bank middle East Limited, ING Bank, Macquarie Capital Middle East L.L.C., State Street Corporation, UniCredit S.p.A., Climate bonds Initiative, and the Centre for Finance and Development, Tsinghua University.