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DIFC Hosts the World’s First Finance Summit Devoted to Advancing COP28 Agenda within the International Finance Business
Occasion a part of DIFC and the International Moral Finance Initiative’s year-long Path to COP28 programme
Over 500 main funding corporations, banks, policymakers, and monetary service suppliers attended the classes specializing in inexperienced finance and greatest follow within the sector to assist the transition to a low-carbon world
·Audio system included trailblazing voices reminiscent of Dame Heather McGregor and famend sustainable finance creator and Chair of the Chartered Banker Institute – Simon Thompson
·Insights introduced following a survey of over 2,000 respondents that hyperlinks Islamic banking and the United Nation’s Sustainable Growth Targets
Dubai Worldwide Monetary Centre (DIFC), the main world monetary centre within the Center East, Africa, and South Asia (MEASA) area, just lately hosted the world’s first finance summit devoted to advancing the COP28 local weather motion agenda within the world finance trade.
As a part of the DIFC-hosted International Moral Finance Initiative’s Path to COP28 programme, over 500 trade professionals attended the primary in a collection of summits serving as a platform to drive proactive motion within the finance trade to guide the cost on local weather change and be on the forefront of accelerating the inexperienced transition. The occasion featured an A-list line-up of audio system and attendees from main funding corporations, banks, policymakers, and monetary service suppliers to debate COP28 priorities for the sector and how one can implement greatest follow decision-making throughout their organisations.
The summit was chaired by Dame Heather McGregor – traditionally generally known as Miss Moneypenny in columns for the Monetary Occasions and one of many first individuals to be awarded the honour of Dame by King Charles III. Dame Heather is now Provost and Vice Principal Heriot-Watt College, Dubai. Famend sustainable finance creator and CEO of the Chartered Banker Institute, Simon Thompson shared his views on how inexperienced finance can energy the transition, making certain capital flows to corporations, investments, tasks and applied sciences seeking to create a sustainable, low-carbon world. Senior figures from key establishments together with ING, Zurich Insurance coverage and NatWest Group mentioned their deal with delivering web zero.
The findings of the world’s first International Islamic Finance Retail Banking Survey and its implications on United Nations Sustainable Growth Targets (SDGs) have been launched on the occasion. The survey attracted responses from greater than 2,000 prospects. 90 per cent of Islamic banking prospects throughout a variety of markets say that’s it essential their financial institution gives merchandise which might be aligned to the SDGs. 96 per cent responded by saying it will be significant that finance merchandise they buy match with the values and ethics of their life. 87 per cent are prepared to pay extra for monetary merchandise which might be aligned to the SDGs.
Christian Kunz, Chief Technique, Innovation and Ventures Officer at DIFC, who additionally spoke on the occasion stated: “DIFC and our purchasers are main the method on how the finance trade can play a big position in tackling the local weather disaster. In alignment with the UAE’s priorities for internet hosting COP28, the primary in a collection of summits held at DIFC offered the best platform for influential contributors from the sector to return collectively and drive concepts ahead to speed up local weather motion. As a big contributor to the sustainable financial development of the Emirate, the DIFC is deeply dedicated to actively contributing the UAE’s position as host of the subsequent UN local weather talks – the second largest within the historical past of local weather summits.”
Omar Shaikh, Managing Director, GEFI, stated: “Monetary establishments want a higher sustainability focus if we’re to beat the very actual risk of local weather change, notably for growing nations. The strain on the trade will solely proceed to extend forward of COP28 and monetary establishments will likely be challenged to play a key position in local weather motion. The maturity and foresight of the UAE authorities and the DIFC’s management as a world-class monetary centre exhibits the nation’s unwavering dedication to tangible outcomes. This summit helped UAE-based monetary establishments to know what COP28 means to them and offered sensible route on how one can efficiently shift to a low-carbon world. Along with the DIFC, we stay up for encouraging and supporting the regional trade to each set the tone of ambition and virtually accelerating the transitioning in the direction of delivering Web Zero.”
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