Abu Dhabi Global Market (ADGM) has announced that the fourth edition of its landmark Abu Dhabi Sustainable Finance Forum (ADSFF), to be held virtually today (January 19), will be a carbon-neutral event and platform.
ADGM will collaborate with AirCarbon Exchange (ACX) to obtain its carbon neutrality status through an offsetting programme. This is done by purchasing carbon credits from a project that works to reduce or absorb carbon emissions.
The ADSFF is a purpose-driven and collective effort platform by the UAE’s financial sector to advance sustainable finance and investment of projects and initiatives that augment the country’s national climate goals and ambition towards a better and more sustainable future.
The ADSFF is a strategic extension of ADGM’s undertaking in supporting the UAE’s Net-Zero by 2050 Strategic Initiatives and commitment towards a thriving and sustainable economy. The forum will convene international government decision-makers, top global institutional investors, regulators, financial institutions, entrepreneurs and innovators to share best practices and discuss industry challenges.
The forum will also facilitate and spark new areas of cross-border collaborations to increase efforts that foster sustainable financing and accelerate the flow of capital towards sustainable investments and projects.
Commenting on the forum, Ahmed Jasim Al Zaabi, Chairman of ADGM, said: "It is ADGM’s mandate and one of its key priorities in facilitating sustainable financing and responsible investments, as well as, addressing climate change and sustainability concerns that affect the financial sector, the economy and the long-term well-being of the UAE. The UAE has always been proactive and forward-thinking in its engagement and actions towards sustainability as demonstrated by its Net Zero 2050 Strategic Initiative and being the convener of COP28.
"As the progressive international financial centre in Abu Dhabi, ADGM will continue to heighten its efforts in supporting the Abu Dhabi’s economic diversification agenda and the UAE’s commitment towards a sustainable future for its people and country. Lowering ADSFF carbon footprint is not only the right thing to do, but also a sensible business decision."
The 4th ADSFF is a much anticipated forum that features key industry thought leaders and entrepreneurs including, Ban Ki-moon, President of the Assembly and Chair of the Council of the Global Green Growth Institute, Eight Secretary-General of the United Nations; Younis Al Khoori, Under-Secretary at the Ministry of Finance, UAE; Mohamed Ali AL Shorafa, Chairman of the Abu Dhabi Department of Economic Development; Mohammed Al Hammadi, Managing Director and CEO, Emirates Nuclear Energy Corporation (ENEC); Dr Maryam Al Suwaidi, Securities and Commodities Authority (SCA); Mary Shapiro, former Chair of the US SEC and Vice Chair, Glasgow Alliance for Net Zero (GFANZ); Jean Lemierre, Chairman, BNP Paribas; Maria Ferraro, Member of the Executive Board and Chief Financial Officer, Siemens Energy AG, to name a few.
The themes of ADSFF include how regulations support sustainability, innovations, connecting investors to opportunities, the use of Islamic finance to support climate mitigation and adaptation and more.