The Central Bank of the UAE (CBUAE) has successfully concluded its Climate Forum in Abu Dhabi, organized under the patronage of H.H. Sheikh Mansour Bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE. This forum showcased high-level local and international participation, reflecting the UAE’s leadership in sustainable finance. It emphasized the need for effective dialogue and collaboration among stakeholders to address climate-related financial risks and promote sustainable finance.

H.E. Khaled Mohamed Balama, the Governor of the CBUAE, opened the forum alongside prominent figures such as H.E. Dr. Amna bint Abdullah Al Dahak Al Shamsi, Minister of Climate Change and Environment, and H.E. Abdulaziz Al Ghurair, Chairman of the UAE Banks Federation. The gathering included financial leaders, policymakers, and experts in sustainable finance who engaged in discussions about advancing the nation’s climate action efforts.

In his keynote address, H.E. Balama described the Climate Forum as a strategic milestone in the UAE’s climate and financial journey amidst global economic and climatic challenges. He stated that the forum marks a shift from dialogue to practical implementation, focusing on investments in institutional capabilities and policy updates. This, he noted, will enhance the resilience of the financial system and prepare it for future risks while balancing sustainable economic growth and environmental protection.

The agenda of the forum included discussions on integrating climate policies into risk management, enhancing financial sector resilience, and fostering regional and international cooperation in sustainable finance. It also highlighted the importance of adopting best practices for analyzing environmental risks and improving sustainability-related disclosures among financial institutions.

Dialogue sessions at the forum brought together central bank representatives and green finance experts to explore alignment of monetary policies with climate goals and innovations in green investment tools. The sessions aimed to strengthen public-private sector roles in greening banking operations and promoting sustainable Islamic finance.

H.E. Dr. Amna bint Abdullah Al Dahak Al Shamsi stressed that the UAE’s dedication to climate action is integral to its national vision. She emphasized the importance of integrating climate policies with financial objectives to drive sustainable growth and unlock economic opportunities.

In his opening remarks, H.E. Abdulaziz Al Ghurair underscored the significance of the forum in promoting Environmental, Social, and Governance (ESG) principles, which are essential for achieving the UAE’s Net-Zero 2050 strategy. He noted that UAE Banks Federation members are committed to providing over AED 1 trillion in sustainable finance by 2030.

In closing, H.E Ebrahim Al Zaabi, Assistant Governor of Monetary Policy and Financial Stability at the CBUAE, affirmed the forum’s success in fostering dialogue and cooperation among financial entities to tackle climate-related challenges. He reiterated the CBUAE’s commitment to supporting the UAE’s sustainable development agenda and collaborating with local and international partners to formulate effective climate policies that ensure financial and monetary stability.