Forensic Risk Alliance (FRA) signs Abu Dhabi Sustainable Finance Declaration

ADGM 21/09/2022
  • FRA has pledged its support to a greener financial services industry across the United Arab Emirates

Forensic Risk Alliance (FRA), the leading forensic accounting, data analytics and data governance consultancy, has signed the Abu Dhabi Sustainable Finance Declaration to support Abu Dhabi Global Market’s (ADGM) vision to create a sustainable financial services industry in the Middle East.

Launched in 2019, the Declaration is led by ADGM with a mission to increase the quality and depth of green financial products in Abu Dhabi and create a thriving sustainable finance industry to support the Emirate of Abu Dhabi and the UAE in meeting the United Nations Sustainable Development Goals (SDGs). FRA is the latest signatory alongside the likes of HSBC and UniCredit in publicly declaring support for integrating green finance solutions to organisations across the UAE.

FRA will continue to collaborate with ADGM and other private and public organisations in building a thriving global community of financial institutions and other stakeholders that share knowledge, experiences and innovations. As well as being a member of the UAE Sustainable Finance Working Group, FRA will provide support for the preparation for COP28 taking place in UAE, November 2023 in Dubai ExpoCity.

Bhavin Shah, Head of FRA’s Middle East Practice says: “We are delighted to partner with ADGM in supporting sustainable business practices across the UAE, and to join a prestigious panel of signatories in helping to mobilise a low-carbon and climate-resilient business economy, which is more important than ever. Thanks to key learnings from FRA’s participation in the work of the European Financial Reporting Advisory Group (EFRAG), we are well placed to contribute to the development of sustainability reporting frameworks across the Middle East.”

Mercedes Vela Monserrate, Head of Sustainable Finance, ADGM said: “Key to developing a sustainable finance hub is cooperation and encouraging dialogue between local and international stakeholders, including UAE authorities, commercial entities, and leading industry standard bearers. ADGM welcomes FRA as a new signatory of the Abu Dhabi Sustainable Finance Declaration and looks forward to furthering the UAE's sustainability footprint and ensuring the longevity of the UAE's economy.”