- | 11:00 am
DIFC launches decarbonization strategy with a net-zero target by 2045
The strategy focuses on reducing emissions within its operations, construction, and supply chain.
The Dubai International Financial Centre (DIFC) has unveiled an ambitious Decarbonization Strategy. The goal is to achieve net-zero emissions by 2045, in alignment with the UAE’s broader Net Zero 2050 initiative. This strategy targets emission reductions across its operations, construction projects, and supply chain, focusing on delivering tangible, measurable outcomes.
During the Future Sustainability Forum 2024, which took place on December 5 at DIFC, the Centre introduced its first Sustainability Progress Report titled “Building a Sustainable Future: DIFC’s Path to Impact.” The report outlines key milestones and a comprehensive roadmap to integrate sustainability into DIFC’s operations.
In addition, the Forum featured the Climate Tech World Cup, a global competition powered by Trescon and Ignyte, showcasing innovative solutions to tackle pressing environmental challenges.
According to Bloomberg’s Capital Markets League Tables, issuances of green, social, sustainable, and sustainability-linked bonds (GSSB) in the MENA region hit a record $24 billion in 2023.
Bloomberg’s Capital Markets League Tables revealed that issuances of green, social, sustainable, and sustainability-linked bonds (GSSB) in the MENA region reached a record $24 billion in 2023.
Notably, the UAE saw a dramatic surge in green bond issuances, increasing by nearly 170% to $10.7 billion, which accounted for 45% of the total regional issuance.
Essa Kazim, Governor of DIFC, emphasized the Centre’s pivotal role in shaping a sustainable future, saying, “In light of COP29 outcomes, we are pleased to announce DIFC’s Decarbonization Strategy, where we are setting new standards for environmental leadership. We remain at the forefront of solidifying Dubai’s position as the leading sustainable financial city in the region.”
These announcements align with the outcomes of COP29, marking a significant point in the “COP Presidencies Troika,” a collaboration between the UAE, Egypt, and Brazil, designed to accelerate efforts to limit global warming to 1.5°C.
DIFC’s ongoing efforts also include the Sustainable Finance Catalyst, launched during COP28. This initiative seeks to channel $100 billion in sustainable financial flows from Dubai by 2030.
Looking ahead, the Dubai FinTech Summit will expand its scope in 2025 to include sustainability, ensuring that climate-focused discussions are closely integrated with technology-driven financial innovation.
Featured Videos
Today's Top Stories:
More Top Stories:
FROM OUR PARTNERS
