ADGM and Emirates Nature-WWF Collaborate to promote sustainable practices in the UAEADGM 21/01/2021
- ADGM reinforces collaborative sustainable efforts with Emirates Nature–WWF to promote sustainable activities and practices across the UAE
- The collaboration will set forth frameworks between both parties to support a sustainable future
Abu Dhabi Global Market (ADGM), the award-winning international financial centre, and Emirates Nature–WWF, the leading non-profit organisation established to drive positive change in the UAE, have signed a Memorandum of Understanding (MOU) to progress the implementation of sustainable finance practices across the UAE and the wider region.
Through the MoU, Emirates Nature–WWF and ADGM will collaborate on common aims, initiatives, and events for enhancing the development of a sustainable blue economy, which details the provision of social and economic benefits relevant to the marine environment, as well as the increased integration of sustainable finance practices. In addition, the collaboration will explore new approaches and initiatives for environmental, social and governance (ESG) approaches, climate change nexus and best practice.
Commenting on the agreement Juma Al Hameli, Senior Executive Director, Strategy and Business Development at ADGM said: “The signing of this MoU alongside our esteemed partner Emirates Nature–WWF is a testament to our shared commitment to accelerate sustainable practices across the UAE and build a progressive resilient future. ADGM has been advocating the adoption of sustainable practices, as it aims to develop a sustainable finance ecosystem within the UAE and the wider region. Through this agreement, we will continue to support the UAE’s sustainability agenda and aid in safeguarding the longevity of the economy and well-being of the environment and society.”
Director General of Emirates Nature-WWF, Laila Abdullatif said: “Nature, including marine ecosystems, is vital to our wellbeing and long-term economic prosperity. We are proud to join hands with our esteemed partner ADGM to support the UAE’s sustainability agenda addressing current global climate crisis and pursuing a sustainable economy for a better world for us all. Recognizing the crucial role of sustainable finance in achieving a more viable and an economic model in harmony with nature, Emirates Nature–WWF through this partnership aims to promote the practice of the Sustainable Blue Economy and explore innovative solutions that balance profit with long-term environmental and social needs.”
Emirates Nature-WWF, founded in 2001, partners with individuals and institutions to achieve science-based solutions to combat climate change and safeguard the seas, the land and their associated biodiversity. As the leading non-profit organisation established to drive positive change in the UAE, the team is ambitious and optimistic about the challenges that lie ahead. Promoting the value of marine ecosystems and the need for action to protect and restore the health of our seas has been a core focus, in collaboration with a wide range of partners, and is very much seen as a solution to support economic resilience after the COVID-19 pandemic.
The joint agreement between both ADGM and Emirates Nature–WWF is an extension of prior commitments that the two undertook together. ADGM had previously built a crowd-funding platform for Emirates Nature–WWF, with ADGM employees registered as “Empowerment Partners” in supporting a green growth strategy.
ADGM continues to reinforce its commitment to drive a resilient and sustainable economy across the UAE and the wider MENA region through various initiatives, collaborations, and programmes. These include the establishment of their flagship Abu Dhabi Sustainable Finance Forum where together with leading financial authorities, published the UAE’s first set of Guiding Principles serving as a catalyst in the implementation of the UAE’s sustainability priorities. In addition, ADGM has pioneered the Abu Dhabi Sustainable Finance Declaration through which public and private sector entities signed in agreement to carry the momentum forward, as well as entering into multiple agreements with leading organisations including, including the UAE Ministry of Climate Change and Environment and the UAE Ministry of Finance.