Introduction
Dubai International Financial Centre (DIFC) is spearheading the global fight against climate change with the announcement of its highly anticipated inaugural Future Sustainability Forum. Scheduled for 4-5 October 2023 at the prestigious Ritz-Carlton DIFC, this event will serve as a crucial platform for industry leaders, investors, policy makers, and technology disruptors to collaborate and mobilize sustainable finance and innovation. DIFC’s commitment to sustainability is further demonstrated by its chairmanship of the Dubai Sustainable Finance Working Group (DSFWG) since 2019, solidifying its role in advancing the objectives of COP28.
Accelerating Climate Action: DIFC’s Future Sustainability Forum
As part of DIFC’s comprehensive “Path to COP28” program, the Future Sustainability Forum aims to accelerate global climate action by bringing together influential decision-makers and change agents from the finance industry. The event will focus on exploring strategies for the sector to take the lead in addressing climate change, fostering a just transition to a sustainable economy, and advancing the goals outlined in the Paris Agreement and UN SDGs 2030.
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Aligning with COP28 Priorities: A Four-Pillar Plan
The Future Sustainability Forum’s agenda strongly supports COP28’s four-pillar plan, which entails fast-tracking the transition, fixing climate finance, prioritizing adaptation measures, and ensuring full inclusivity. COP28 President-Designate and Minister of Industry and Advanced Technology recently announced these priorities, emphasizing the urgency of collective action in combating climate change. By aligning its efforts with COP28’s objectives, DIFC aims to make a significant impact on the global stage.
Year of Sustainability in the UAE: DIFC Leading the Way
The Future Sustainability Forum is an integral part of the UAE’s Year of Sustainability, further solidifying DIFC’s commitment to environmental stewardship. Dubai, with its position as a global leader in Green and Sustainable Bonds and Sukuk, plays a pivotal role in promoting sustainable economic growth. NASDAQ Dubai, with a market size exceeding 110 billion USD, of which 16% represents sustainable bonds and sukuks, is a testament to Dubai’s strong presence in the field.
Accelerating Net-Zero Goals: Mobilizing Key Stakeholders
At the heart of the Future Sustainability Forum is the acceleration of net-zero goals. By mobilizing key stakeholders, including the finance and insurance sectors, the event aims to drive the transition to a low-carbon economy. It will explore cutting-edge sustainability and climate technologies that play a critical role in achieving net-zero targets and contributing to the United Nations’ Sustainable Development Goals (SDGs) and the Paris Agreement.
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UAE’s Proactive Approach: A Model for Sustainability
The UAE and Dubai governments have been at the forefront of sustainability efforts, implementing comprehensive programs such as the Dubai Clean Energy Strategy 2050, UAE Net Zero 2050 strategic initiative, and UAE Vision 2070. These initiatives showcase the nation’s proactive approach to addressing environmental challenges and fostering a sustainable future. The Future Sustainability Forum will highlight the UAE’s sustainable practices, particularly within the financial ecosystem, and encourage global experts to connect and collaborate.
Conclusion
DIFC’s inaugural Future Sustainability Forum marks a significant milestone in the global fight against climate change. As a leading global financial hub, DIFC is driving sustainable finance and innovation, and positioning itself as a key player in the transition to a low-carbon, climate-resilient future. With its alignment with COP28 priorities and the UAE’s proactive approach to sustainability, the Future Sustainability Forum promises to be a catalyst for meaningful dialogue and actionable outcomes. This event will undoubtedly chart a course towards a more sustainable world, with DIFC playing a central role in shaping the future of global finance and environmental stewardship.
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