Sustainable Emirati financing for a clean future

Sustainable Emirati financing for a clean future

By Sally Goldman

Nothing the UAE does is impromptu, as it is the country that carefully plans and proposes everything it initiates and puts forward in terms of action plans or initiatives, whether concerning the UAE interior, the region, or even the world. Hence, Abu Dhabi did not launch the year 2023 as "the year of sustainability in the Emirates," for It was absurd, but it was about the precedent, persistence, and determination of the wise leadership in the Emirates in making sustainability a concept that includes the world, based on its being a strategic partner in shaping the future,

The UAE has presented many initiatives to activate sustainable development and limit climate change, the most complex crisis facing humanity, hence the UAE's participation in the second meeting of the Sustainable Finance Working Group hosted by India, which holds the presidency of the Group of Twenty, in the Indian city of Udaipur, where they discussed Developments related to the group, and dealt with what has been achieved for sustainable financing for the current year.
Ways and mechanisms that help in enhancing climate action financing were also discussed. Participants in the meeting were briefed on financial reports and procedures that can help and contribute to financing the 2030 Sustainable Development Goals.

The Emirati delegation presented what the UAE has accomplished in building and developing Emirati local capacities within the global efforts to find practical and effective solutions within a sustainable financing framework. It is worth mentioning that the meeting witnessed the holding of two workshops for the Sustainable Finance Group, during which roles and non-pricing policies were discussed. In supporting sustainable investment, the participants in the two seminars also discussed ways and means of providing the necessary and necessary financing to achieve the goals of sustainable development and how to benefit from the experiences and experiences of the participating countries, especially the UAE experience, which succeeded in providing financing for sustainable development by harnessing the money derived from energy conventional energy, especially oil, to pump it into sustainable projects and clean alternative energy.

In the context of the Emirati approach set by the leadership of the Emirates, and confirmed by the President of COP 28, Dr. Sultan Al Jaber, at the Copenhagen Climate Conference meeting, where he called for the commitment of more countries to increase financing to limit climate change, and to cross the world towards clean and renewable energy, and called on them to benefit from The Emirati experience, which harnessed oil revenues to create an economy that is not dependent on oil, and that achieves the desired sustainable development.

In addition to promoting the sustainable financing roadmap for the Group of 20 and how the UAE was able to go through the plan implemented by Dr. Sultan Al Jaber in the meeting that was held recently is the second within forty days, as the first meeting was also held in India in the city of Guwahati in the state of Assam, during which the participants discussed the priorities of the Sustainable Finance Working Group for the year 2023, in the presence of members of the Group of Twenty, its affiliated partners, and the International Monetary Fund.

We conclude by saying that the UAE aimed, during its participation in the meeting of the Sustainable Finance Working Group, to enhance financing for climate action to achieve the sustainable development goals of 2030 and to rely on the local capabilities of each country, as it did base on the vision of Sheikh Mohammed bin Zayed in finding sustainable financing, including Building a clean future.