State of Sustainable Finance Report

The State of Sustainable Finance Report at a glance

The State of Sustainable Finance Report provides an overview of the initiatives that Abu Dhabi Global Market (ADGM), the Ministry of Climate Change and Environment (MOCCAE), together with public and private partners that are signatories to the Abu Dhabi Declaration and other key UAE stakeholders, have taken to date in furthering sustainable finance priorities.

Report objectives

• Take stock of:

  • the progress made by both public and private stakeholders in the UAE
  • actions/steps that continues to be taken as part of its Sustainable Finance Agenda

• Celebrate the recent initiatives and achievements of key partners and fellow signatories of the Abu Dhabi Declaration

• Act as a call to action to accelerate collective efforts

Overview of collective action in furthering progress towards the UAE’s Sustainability objectives

• Collaborating to create a framework for integrating sustainable finance in the Emirate of Abu Dhabi, the UAE and the wider region

• In the UAE, much has already been achieved in terms of developing a conducive policy and regulatory environment to advance sustainable finance.

• On the international stage, policy makers, regulators and other bodies recognise the importance of advancing sustainable finance, with efforts to ensure a sustainable and resilient economic recovery.

Overview of collective action in furthering progress towards the UAE’s Sustainability objectives

• Facilitating a constructive dialogue on sustainable finance between all stakeholders, including the financial community, business and the public sector

• Core to the Abu Dhabi Sustainable Finance Declaration is the emphasis of promoting collaboration between government, regulators, financial institutions and other stakeholders.

  On ADGM’s front, we joined and actively participated in a number of key international associations focusing on sustainable finance.

Overview of collective action in furthering progress towards the UAE’s Sustainability objectives

• Raising awareness and encouraging educational and cooperation opportunities for greater action on sustainability

• ADGM, along with its partners, is raising the level of knowledge, awareness and acceptance of sustainable finance through events, webinars, education and training programmes.

• ADGM’s Abu Dhabi Sustainable Finance Forum was launched in 2019, as part of the Abu Dhabi Sustainability Week.

• ADGM Academy announced the launch of the first Certificate in Sustainable Finance in the region, in partnership with the London Institute of Banking & Finance (LIBF).

Overview of collective action in furthering progress towards the UAE’s Sustainability objectives

• Increasing the quality and depth of sustainable financial products and offerings and creating a thriving sustainable finance industry

• Together with its stakeholders and partners, ADGM continues to develop a sustainable finance ecosystem with a diversity of institutions, product offerings and services to support capital formation and deployment. While there are many components to achieve this, the report draws on three themes of particular interest and relevance during this time:
  4.1 Innovation – as a driver of change
  4.2 Social issues – rising priority in a post-COVID-19 world
  4.3 Islamic finance – alignment with the SDGs