Environment

Dubai International Financial Centre (DIFC), a leading global financial hub in the Middle East, Africa, and South Asia (MEASA), has announced its Decarbonisation Strategy, aiming to achieve Net Zero emissions by 2045. The announcement, made during the second edition of the Future Sustainability Forum, underscores DIFC’s leadership in advancing sustainability and contributing to the UAE’s Net Zero 2050 goals.

Key Announcements

1. Decarbonisation Strategy: DIFC’s comprehensive plan targets emissions reductions across operations, construction, and supply chain activities, setting a benchmark for global financial centres by committing to real Net Zero without carbon offsets or trading.

2. Sustainability Progress Report: DIFC published its inaugural report, Building a Sustainable Future: DIFC’s Path to Impact, outlining its achievements and roadmap for sustainability.

3. Climate Tech World Cup: Hosted at the Forum, the competition spotlighted innovations tackling pressing environmental challenges, with finalists presenting solutions in renewable energy, water generation, waste management, and more.

4. Global Collaboration: The Forum brought together 3,000 industry leaders, over 500 global investors, and 100 speakers to discuss pathways to achieving net-zero targets, advancing green finance, and fostering ESG-driven innovation.

Strengthening UAE’s Sustainability Leadership

DIFC’s strategy builds on outcomes from COP28 and COP29, reinforcing Dubai’s position as a leading hub for sustainable finance. Governor Essa Kazim highlighted:
"We are setting a new benchmark for environmental leadership within global financial centres, aiming to achieve Net Zero by 2045, five years ahead of the UAE’s national target. The Future Sustainability Forum is a vital platform for global collaboration on climate action and sustainable development."

The UAE has emerged as a regional leader in green finance, with Bloomberg reporting record-high issuances of green, social, sustainable, and sustainability-linked bonds (GSSB) in 2023, driven by the UAE and Saudi Arabia. The UAE’s green bond issuance reached $10.7 billion, marking a 170% increase and capturing nearly 45% of regional totals.

Future Initiatives

• Sustainable Finance Catalyst: Launched during COP28, this initiative supports start-ups and innovation, aiming to scale sustainable financial flows from Dubai to $100 billion by 2030, supported by an AI-driven sustainability knowledge hub.
• Workstream for FinTech Summit 2025: Sustainability and ESG initiatives will be integrated into the Dubai FinTech Summit, fostering collaboration across sectors.

Forum Outcomes

The Future Sustainability Forum 2024 emphasized innovative approaches to sustainable development, with discussions on net-zero strategies, the growth of green finance, and the role of technology in driving sustainability.

With its ambitious goals and strategic initiatives, DIFC continues to solidify its role as a regional and global leader in sustainable finance and innovation.

• Tags
• #Business
• #Magazine
• #Lifestyle