DIFC’s First Sustainability Forum Drives Global Climate Solutions

Dubai International Financial Centre (DIFC), a prominent global financial hub in the Middle East, Africa, and South Asia, commenced its inaugural Future Sustainability Forum today at the Ritz-Carlton, DIFC. The event witnessed the gathering of over 1000 industry leaders and change-makers from 30 countries.

Timed ahead of COP28, the Forum exemplifies DIFC’s commitment to facilitating global solutions for addressing climate financing needs in emerging markets. Over two days, the Forum brings together influential figures from various industries, decision-makers, and innovators worldwide to explore the financial sector’s role in combating climate change.

With a lineup of more than 50 speakers, the Forum’s opening day focused on actionable strategies for promoting a just transition to a sustainable economy while aligning with the Paris Agreement and the United Nations Sustainable Development Goals for 2030.

In his opening remarks, His Excellency Essa Kazim, Governor of DIFC, emphasized the UAE and Dubai government’s dedication to sustainability programs, positioning Dubai and DIFC as leaders in mobilizing climate finance across regions.

The Forum’s agenda aligns with COP28’s four-pillar plan, emphasizing the need to expedite the transition, secure climate finance, focus on adaptation, and ensure inclusivity. Globally, an estimated $3.3 – $4.5 trillion is required annually to achieve the 2030 Agenda for Sustainable Development. DIFC is actively supporting the growth of the sustainable debt market within Nasdaq Dubai, currently the world’s largest ESG sukuk market.

The signing of two Memoranda of Understanding (MoUs) at the Forum underscores Dubai’s role in increasing the availability and accessibility of climate finance, further bridging the gap between the Global North and Global South.

Arif Amiri, CEO of DIFC Authority, highlighted finance as a catalyst for positive change and emphasized the Forum’s goal of fostering collaboration and driving transformative change for a sustainable future, aligning with COP28 priorities.

The first day of the Forum featured panel discussions, closed-door roundtables, and fireside chats involving industry leaders, investors, tech disruptors, and policymakers. Topics included Dubai’s path to becoming a global sustainable finance hub, ESG integration in decision-making, climate finance mobilization for COP28, and leveraging private finance for sustainability.

The second day promises more insightful discussions on topics such as the role of nature-based solutions in achieving net-zero emissions, innovations in carbon offsetting, the power of renewables, and integrating climate risk into financial planning.

Distinguished speakers at the Forum include H.E. Mariam Bint Mohammed Saeed Hareb Almheiri, UAE Minister of Climate Change & Environment, and various leaders from the public and private sectors.

DIFC’s hosting of the inaugural Future Sustainability Forum underscores its commitment to sustainability, in line with its role as the chair of the Dubai Sustainable Finance Working Group (DSFWG) and its alignment with Dubai’s leadership in Green and Sustainable Bonds and Sukuk.