Abu Dhabi Global Market (ADGM), in collaboration with the Global Climate Finance Centre (GCFC), HSBC, and Smartenergy, successfully hosted the 7th Abu Dhabi Sustainable Finance Forum (ADSFF), marking the conclusion of Abu Dhabi Finance Week (ADFW).
Keynote Emphasizes UAE’s Climate Leadership
Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of the UAE Independent Climate Change Accelerators, delivered a keynote address stressing the UAE’s leadership in climate action and the importance of collaborative efforts to tackle environmental challenges through blended finance initiatives.
Unveiling of the World’s Largest Climate Fund
Majid Al Suwaidi, CEO of Alterra, led a fireside chat with GCFC CEO Mercedes Vela Monserrate on the launch and progress of the world’s largest climate fund. The discussion, titled Catalysing the Future: Abu Dhabi’s Bold Vision to Become A Global Climate Finance Hub, detailed the fund’s efforts in mobilizing capital and fostering partnerships.
Focus on AI and Sustainability
Carme Artigas Brugal, Co-Chair of the UN’s AI Advisory Body, delivered a keynote highlighting AI’s role in addressing global challenges. She emphasized the need for ethical AI integration to advance the Sustainable Development Goals and outlined the UN’s work in establishing international AI cooperation rules.
Commitment to Green Finance
In his opening remarks, Emmanuel Givanakis, CEO of ADGM’s Financial Services Regulatory Authority, reiterated ADGM’s commitment to sustainable finance. He stated:
“ADGM is a key driver in the UAE’s net-zero journey, providing a regulatory framework that bridges the green financing gap and accelerates the climate transition.”
Insights from Global Leaders
Representatives from HSBC shared strategies to align financial innovations with science-based climate targets, emphasizing investment in emerging green technologies and business models.
Panels on Impact Investing and Carbon Markets
Key panels addressed the effectiveness of private capital in sustainable projects and explored the evolving role of carbon credits in financing climate action. Experts from Climate Finance Partners and Offset8 Capital examined the potential of carbon markets to support national climate targets.
Growth in Renewable Energy
Sessions discussed the International Energy Agency’s (IEA) forecasts for rapid renewable energy growth over the next five years, highlighting the region’s potential role in driving global clean energy transitions.
Banking and Green Transition
Banking sector leaders, including HSBC, Mashreq, and Emirates NBD, debated financial institutions’ responsibilities in achieving sustainability commitments and ensuring accountability in green financing.
Expansion of Sustainable Finance Declaration
The ADSFF welcomed 44 new signatories to the Abu Dhabi Sustainable Finance Declaration, raising the total to 160. Signatories pledged to advance sustainability across sectors, including renewable energy, AgriTech, and waste management.
Women in Finance Conference
The Women in Finance conference, held on the final day, celebrated the contributions of women in sustainable finance and emphasized the importance of gender equity in the sector.
ADSFF 2024 successfully reinforced Abu Dhabi’s position as a global leader in climate finance and sustainability.
