Latest news with #ClimateForum
Sharjah 24
2 days ago
- Business
- Sharjah 24
CBUAE concludes Climate Forum in Abu Dhabi
Reaffirmed the importance of effective dialogue and close collaboration The forum reaffirmed the importance of effective dialogue and close collaboration among key stakeholders in addressing climate-related financial risks, advancing sustainable finance and exchanging best practices to strengthen the resilience of the financial system and accelerate climate action. The forum comes as part of the CBUAE's ongoing efforts to drive the transition towards a more sustainable financial system and strengthen its vital role in leading sustainable finance efforts, in line with the UAE's Net Zero by 2050 strategy. Khaled Mohamed Balama, Governor of the CBUAE, opened the forum in the presence of Dr Amna bint Abdullah Al Dahak Al Shamsi, Minister of Climate Change and Environment, Abdulaziz Al Ghurair, Chairman of the UAE Banks Federation, and James Talbot, Chair of the Monetary Policy Workstream at the Network for Greening the Financial System, alongside a group of financial leaders, policymakers, international experts in sustainable finance and climate risks, and senior officials from regulatory bodies, central banks, and local and international financial institutions. Emphasised that the Climate Forum represents a strategic milestone in the UAE's journey of climate and financial action In his keynote address, Khaled Mohamed Balama emphasised that the Climate Forum represents a strategic milestone in the UAE's journey of climate and financial action, especially in light of the geopolitical and economic challenges and accelerating climate changes witnessed globally. He added, 'The Climate forum represented a pivotal turning point towards transitioning from a phase of dialogue and exchanging visions to a phase of practical implementation, through systematic investment in building institutional capabilities, updating policies, and developing operational processes within financial institutions. This contributes to enhancing the resilience and stability of the financial system and raising its level of preparedness in facing future risks, further solidifying the desired balance between sustainable economic growth and environmental protection.' He also stressed that the forum reflects the ambitious vision of the UAE and its keenness to consolidate its position as a leading global hub for institutional dialogue on issues of sustainable finance and responsible climate action. Discussed ways to enhance the integration of climate policies in risk management and investments The forum discussed ways to enhance the integration of climate policies in risk management and investments, and the necessity of finding effective solutions to strengthen the financial sector's resilience in facing future climate and environmental challenges. It also addressed frameworks for activating regional and international cooperation in the areas of legislation, financial policies, and adopting a proactive approach in developing sustainable Islamic finance solutions, in a step that affirms the UAE's growing position as a leading global centre in leading the dialogue on the future of sustainable finance. Agenda The forum's agenda included a number of themes in the field of sustainable finance, most notably strategies for integrating climate risks into regulatory frameworks, adaptation finance tools in emerging markets, and policies for enhancing the resilience of financial systems in the face of climate change. The forum also highlighted empowering financial institutions to adopt best global practices in analysing environmental risks and enhancing sustainability-related disclosures. Dialogue sessions The forum also included a number of dialogue sessions that brought together policymakers, representatives of central banks, and green finance experts, to discuss ways to align monetary and financial policies with climate goals, and the importance of innovation in developing green investment tools. The sessions addressed ways to build institutional capabilities and activate frameworks for regional and international cooperation in the areas of greening banking operations and sustainable Islamic finance, further enhancing the integration of roles between the public and private sectors. UAE's commitment to climate action and sustainable development Dr. Amna bint Abdullah Al Dahak Al Shamsi said, "The UAE's commitment to climate action and sustainable development is a cornerstone of our national vision. This is powerfully demonstrated by our Net Zero 2050 Strategy and Green Agenda 2030, and further reinforced by our whole-of-society approach. We are actively integrating climate policies directly with financial goals, thereby driving sector-wide sustainable growth. "We firmly believe that by strategically directing climate finance and investment, we can drive profound change, unlock green economic opportunities, and build a resilient financial system that ensures lasting prosperity. Recognising the urgency of our collective climate action, we commend the instrumental work of the UAE Central Bank and the NGFC in bolstering green finance infrastructure. Their efforts are integral to helping the nation achieve its climate and sustainability goals while simultaneously driving socio-economic growth." In his opening speech, Abdulaziz Al Ghurair said, 'Organising the Climate Forum reflects Central Bank of the UAE's proactive approach and firm commitment to Environmental, Social, and Governance (ESG) principles as a core driver of our growth in line with the UAE's Net-Zero 2050 strategy and Sustainable Development Goals (SDGs)." 'UBF, as the sole representative and unified voice of UAE banks, remains committed to continuously enhancing our financial and banking ecosystem and facilitating innovative finance solutions towards a sustainable and inclusive future. UBF's member national banks' pledge to dedicate over AED 1 trillion in sustainable/green finance by 2030 is a testament to our efforts. Our member banks continue to lead innovative solutions in ESG financing." In his closing remarks, Ebrahim Al Zaabi, Assistant Governor of Monetary Policy and Financial Stability at the CBUAE affirmed the forum's success in achieving its strategic objectives by providing a high-level platform for constructive dialogue and strengthening frameworks for joint cooperation among regulatory and financial entities to address climate-related challenges. He added, 'The fruitful discussions witnessed by the forum contributed to enhancing the understanding of current climate challenges and exploring promising prospects for building and developing a more resilient and integrated financial system, by expanding the base of partnerships and strengthening international cooperation.' He affirmed the CBUAE's commitment to supporting the UAE's sustainable development agenda and continuing to work closely with the Network for Greening the Financial System and all local and international partners, in order to formulate effective climate policies that contribute to solidifying financial and monetary stability at both local and international levels.
Al Etihad
2 days ago
- Business
- Al Etihad
Under the patronage of Mansour bin Zayed, Central Bank of UAE concludes Climate Forum in Abu Dhabi
26 June 2025 20:04 ABU DHABI (WAM) The Central Bank of the UAE (CBUAE) concluded its Climate Forum on Thursday in Abu Dhabi, held under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, Chairman of the Board of Directors of the forum reaffirmed the importance of effective dialogue and close collaboration among key stakeholders in addressing climate-related financial risks, advancing sustainable finance and exchanging best practices to strengthen the resilience of the financial system and accelerate climate forum comes as part of the CBUAE's ongoing efforts to drive the transition towards a more sustainable financial system and strengthen its vital role in leading sustainable finance efforts, in line with the UAE's Net Zero by 2050 of the CBUAE, Khaled Mohamed Balama, opened the forum in the presence of Dr. Amna bint Abdullah Al Dahak Al Shamsi, Minister of Climate Change and Environment, Abdulaziz Al Ghurair, Chairman of the UAE Banks Federation, and James Talbot, Chair of the Monetary Policy Workstream at the Network for Greening the Financial System, alongside a group of financial leaders, policymakers, international experts in sustainable finance and climate risks, and senior officials from regulatory bodies, central banks, and local and international financial his keynote address, Khaled Mohamed Balama emphasised that the Climate Forum represents a strategic milestone in the UAE's journey of climate and financial action, especially in light of the geopolitical and economic challenges and accelerating climate change witnessed added, 'The Climate forum represented a pivotal turning point towards transitioning from a phase of dialogue and exchanging visions to a phase of practical implementation, through systematic investment in building institutional capabilities, updating policies, and developing operational processes within financial institutions. This contributes to enhancing the resilience and stability of the financial system and raising its level of preparedness in facing future risks, further solidifying the desired balance between sustainable economic growth and environmental protection.'He also stressed that the forum reflects the ambitious vision of the UAE and its keenness to consolidate its position as a leading global hub for institutional dialogue on issues of sustainable finance and responsible climate forum discussed ways to enhance the integration of climate policies in risk management and investments, and the necessity of finding effective solutions to strengthen the financial sector's resilience in facing future climate and environmental challenges. It also addressed frameworks for activating regional and international cooperation in the areas of legislation, financial policies, and adopting a proactive approach in developing sustainable Islamic finance solutions, in a step that affirms the UAE's growing position as a leading global centre in leading the dialogue on the future of sustainable forum's agenda included a number of themes in the field of sustainable finance, most notably strategies for integrating climate risks into regulatory frameworks, adaptation finance tools in emerging markets, and policies for enhancing the resilience of financial systems in the face of climate change. The forum also highlighted empowering financial institutions to adopt best global practices in analysing environmental risks and enhancing sustainability-related forum also included a number of dialogue sessions that brought together policymakers, representatives of central banks, and green finance experts to discuss ways to align monetary and financial policies with climate goals and the importance of innovation in developing green investment tools. The sessions addressed ways to build institutional capabilities and activate frameworks for regional and international cooperation in the areas of greening banking operations and sustainable Islamic finance, further enhancing the integration of roles between the public and private Amna bint Abdullah Al Dahak Al Shamsi said, "The UAE's commitment to climate action and sustainable development is a cornerstone of our national vision. This is powerfully demonstrated by our Net Zero 2050 Strategy and Green Agenda 2030, and further reinforced by our whole-of-society approach. We are actively integrating climate policies directly with financial goals, thereby driving sector-wide sustainable growth."We firmly believe that by strategically directing climate finance and investment, we can drive profound change, unlock green economic opportunities, and build a resilient financial system that ensures lasting prosperity. Recognising the urgency of our collective climate action, we commend the instrumental work of the UAE Central Bank and the NGFC in bolstering green finance infrastructure. Their efforts are integral to helping the nation achieve its climate and sustainability goals while simultaneously driving socio-economic growth."In his opening speech, Abdulaziz Al Ghurair said, 'Organising the Climate Forum reflects Central Bank of the UAE's proactive approach and firm commitment to Environmental, Social, and Governance (ESG) principles as a core driver of our growth in line with the UAE's Net-Zero 2050 strategy and Sustainable Development Goals (SDGs)."'UBF, as the sole representative and unified voice of UAE banks, remains committed to continuously enhancing our financial and banking ecosystem and facilitating innovative finance solutions towards a sustainable and inclusive future. UBF's member national banks' pledge to dedicate over Dh1 trillion in sustainable/green finance by 2030 is a testament to our efforts. Our member banks continue to lead innovative solutions in ESG financing."In his closing remarks, Assistant Governor of Monetary Policy and Financial Stability at the CBUAE, Ebrahim Al Zaabi, affirmed the forum's success in achieving its strategic objectives by providing a high-level platform for constructive dialogue and strengthening frameworks for joint cooperation among regulatory and financial entities to address climate-related added, 'The fruitful discussions witnessed by the forum contributed to enhancing the understanding of current climate challenges and exploring promising prospects for building and developing a more resilient and integrated financial system, by expanding the base of partnerships and strengthening international cooperation.' He affirmed the CBUAE's commitment to supporting the UAE's sustainable development agenda and continuing to work closely with the Network for Greening the Financial System and all local and international partners, in order to formulate effective climate policies that contribute to solidifying financial and monetary stability at both local and international levels.
Al Etihad
19-06-2025
- Business
- Al Etihad
CBUAE organises Climate Forum, ‘Network for Greening the Financial System' meeting in Abu Dhabi
19 June 2025 20:14 ABU DHABI (WAM)Under the Patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of the Central Bank of the United Arab Emirates (CBUAE), the CBUAE is organising its first Climate Forum and a meeting of the Network for Greening the Financial System (NGFS) at the St. Regis Saadiyat Island Resorts, Abu Dhabi, on June 26, two-day event demonstrates the CBUAE's commitment to driving sustainable finance and leading the transition towards a more sustainable financial system, in line with the UAE's vision to achieve net zero by Climate Forum brings together financial leaders, policymakers, international experts in sustainable finance and climate risks, and senior officials from regulatory bodies, central banks, and international financial aim is to exchange insights on ways to foster better integration of climate policies in risk management and investment and to explore effective solutions for enhancing financial sector resilience in the face of future climate and environmental will also address frameworks for activating regional and international cooperation in the areas of monetary policy, regulation and sustainable Islamic finance, thereby strengthening the complementary roles between the public and private sectors. This further underscores the UAE's growing position as a regional and international hub for leading the global dialogue on the future of sustainable NGFS meeting will be centred on 'greening' monetary policy frameworks. Discussions will focus on integrating climate change impacts into monetary policy formulation and operations, alongside reviewing the NGFS's latest work progress and plans. Since its inception in 2017, the NGFS has become a global force, uniting over 160 central banks and financial Mohamed Balama, Governor of the CBUAE, said, "The convening of the Climate Forum and the Network for Greening the Financial System meeting marks a milestone amidst the global shifts in economic policies and the growing climate challenges. In line with the wise leadership's vision for the UAE and its commitment to achieving net zero by 2050, the CBUAE continues to solidify its pivotal role in spearheading financial sustainability." He added, "This is achieved by strengthening the green finance infrastructure and developing regulatory frameworks that support the integration of climate risks within the financial sector's ecosystem, thereby enhancing its resilience, reinforcing its stability, and achieving the desired balance between economic growth and sustainability."
Zawya
19-06-2025
- Business
- Zawya
CBUAE organises climate forum and 'Network for Greening the Financial System' meeting in Abu Dhabi
Abu Dhabi: Under the Patronage of H.H. Sheikh Mansour Bin Zayed Al Nahyan Vice President, Deputy Prime Minister and Chairman of the Presidential Court, Chairman of the Board of Directors of the Central Bank of the United Arab Emirates, the CBUAE is organising its first Climate Forum and a meeting of the Network for Greening the Financial System (NGFS) at the St. Regis Saadiyat Island Resorts, Abu Dhabi, on 26 June 2025. The two-day event demonstrates the CBUAE's commitment in driving sustainable finance and leading the transition towards a more sustainable financial system, in line with the UAE's vision to achieve net zero by 2050. The Climate Forum brings together financial leaders, policymakers, international experts in sustainable finance and in climate risks, and senior officials from regulatory bodies, central banks, and international financial institutions. The aim is to exchange insights on ways to foster better integration of climate policies in risk management and investment, and to explore effective solutions for enhancing financial sector resilience in the face of future climate and environmental challenges. It will also address frameworks for activating regional and international cooperation in the areas of monetary policy, regulation and sustainable Islamic finance, thereby strengthening the complementary roles between the public and private sectors. This further underscores the UAE's growing position as a regional and international hub for leading the global dialogue on the future of sustainable finance. The NGFS meeting will be centred on 'greening' monetary policy frameworks. Discussions will focus on integrating climate change impacts into monetary policy formulation and operations, alongside reviewing the NGFS's latest work progress and future plans. Since its inception in 2017, the NGFS has become a global force, uniting over 160 central banks and financial supervisors. His Excellency Khaled Mohamed Balama, Governor of the CBUAE, said: "The convening of the Climate Forum and the Network for Greening the Financial System meeting marks a milestone amidst the global shifts in economic policies and the growing climate challenges. In line with the wise leadership's vision for the UAE and its commitment to achieving net zero by 2050, the CBUAE continues to solidify its pivotal role in spearheading financial sustainability. This is achieved by strengthening the green finance infrastructure and developing regulatory frameworks that support the integration of climate risks within the financial sector's ecosystem, thereby enhancing its resilience, reinforcing its stability, and achieving the desired balance between economic growth and sustainability."
Euronews
06-04-2025
- Politics
- Euronews
Experts at the Samarkand Climate Forum warn central Asia is getting warmer year after year
ADVERTISEMENT Central Asia is getting warmer year after year, running out of water and, consequently, food, delegates at the Samarkand Climate Forum have been told. The Climate Forum, a regular annual event, was a follow-up to the Central Asia-European Union Summit, which elevated the cooperation between the EU and Central Asia regions to the strategic level. The participants were of the highest level: presidents of five Central Asian countries and the presidents of the European Council and European Commission. Having already discussed cooperation and investment in green transition and water management in the previous event, the speakers focused on concrete projects of saving Central Asia from becoming a desert. Opening the forum, the host, President of Uzbekistan Shavkat Mirziyoyev, defined the problem Central Asia faces in very clear terms. 'Climate change is inextricably linked to food and energy security. Fertile lands are rapidly decreasing while the region's population is growing, and in 25 years from now, it can surpass 100 million people. Today, over 20 percent of the land in the region is exposed to degradation. In a quarter of a century, crop yields may decrease by a third.' Central Asia cooperating with the EU However critical the threat, experts note that cooperation with the European Union and its long-running food safety and innovation programs will increase the odds in the fight against the climate disaster. 'I believe it is vital for us to combine our scientific potential to increase the adaptation capacity of our forestry and agrarian sectors, as well as strengthen food security as part of the HORIZON EUROPE Program,' Uzbekistan's president said. Shavkat Mirziyoyev said. The leaders of the EU, President of the European Council Antonio Costa and the President of the European Commission Ursula von der Leyen, not only agreed but also reaffirmed the EU's commitment, pointing out that the EU is already heavily involved in tackling climate-induced problems of Central Asia. 'Today, Central Asia and Europe have agreed to enter a new strategic partnership. Climate security and the protection of our nature will have a central place in this strategic partnership. First, Europe wants to work alongside you in adapting to a changing climate," EU Commission President Ursula von der Leyen said. Second, together we can also speed up the global transition to clean energy. Last year, Uzbekistan, Tajikistan, and Kyrgyzstan joined our global pledge to double energy efficiency and triple renewable energy capacity by 2030,' von der Leyen added. For his part, EU council president, Antonio Costa, said, 'Today, together with the president of the European Commission, Ursula Von Der Leyen, we reaffirm our commitment to elevating the Central Asia-European Union relations to a strategic partnership". "A strategic partnership that will pool European resources, expertise, and technology in favour of a deeper cooperation with Central Asia on climate action, water management, energy security, green development, and sustainability. This is the way forward. This must be a central part of our common future.' In this photo released by Uzbekistan's Presidential Press Office, Uzbekistan's President Shavkat Mirziyoyev, right, and European Commission President Ursula von der Leyen, pos AP/Uzbekistan's Presidential Press Office Fighting climate change in Central Asia The European Union is already fighting the effects of climate change through development projects in the region. For instance, the EU is creating a new green belt in the Aral Sea basin, bringing life back to what is now a salty desert. And this is helping Central Asia's farmers adapt to a drier climate, using technology to save water and monitor its usage. ADVERTISEMENT This is the same transition that many farmers in the European Union are also going through. Those same European farmers are now exploring innovative solutions, for instance, by using our satellites to monitor the soil and adopting new genomic techniques with climate change-resistant plants. On a more industrial level, the EU is investing in clean energy across this region, including the record-breaking Rogun dam in Tajikistan and the Kambarata dam in Kyrgyzstan. They will generate enough energy not only for their two countries but also to export across Central Asia. 'They will power up new strategic industries, for instance, to process raw materials. They will help electrify our transport corridors—we have been discussing this today—and produce clean hydrogen that could be sold abroad. This is truly of mutual benefit. It is good for our energy independence, it is good for our trade, and of course it is good for our common planet, for climate and the protection of our nature', von der Leyen said. ADVERTISEMENT The leaders of Uzbekistan, Kazakhstan, Tajikistan, Kyrgyzstan, and Turkmenistan listed the projects and ideas that may benefit from the increased funding and know-how transfer. This photo released by Uzbekistan's Presidential Press Office offers a view of the first summit between the leaders of the EU and the five countries of Central Asia in Samarka AP/Uzbekistan's Presidential Press Office They ranged from creating a regional water usage strategy to planting millions of trees to fight desertification (something that Uzbekistan is already doing). A number of meetings were held with different stakeholders, some of them warning that the alarm bells rang out too late but most of them leaving hopeful. 'The most important thing to see was the commitment of all the countries and collaboration with the EU. ADVERTISEMENT The presence of the heads of states and the presence of the leadership of the EU and the development banks is critical. It is the evidence that the stakeholders are ready to act and are ready to collaborate', said Anacláudia Rossbach, the executive director of UN-Habitat. There are few places more appropriate for a venue of an environmental awareness event than the Aral Sea. It is a harrowing example of what people can do to the very places they live in. Once the fourth-largest lake on the planet, this lush water world spans across 68,000 square kilometers. ADVERTISEMENT People swim in the Amu Darya River, near Muynak, Uzbekistan, Wednesday, July 12, 2023. (AP Photo/Ebrahim Noroozi) Ebrahim Noroozi/Copyright 2023 The AP. All rights reserved. Fed by the Syr Darya and Amu Darya rivers, it was not only the habitat of dozens of species of wildlife but also supported local fishermen who were able to catch 60,000 tons of fish every year. Then, in 1960, the Soviet Union decided to turn the region into a cotton-growing hub. Watering as much as 7 million hectares of fields took a lot of water from the two rivers, and the Aral Sea began to recede. Both cotton and the Soviet Union are now part of history, but the agricultural land is still expanding, and the sea is drying out. Compared to its old self, it is now a pond of just 8,000 square kilometers with salinity so high that it has become nearly devoid of life. The whole region suffers from a lack of water, with resources decreasing steadily. As recently as five years ago, there were armed conflicts between some of the countries in the region over single wells or rivulets. ADVERTISEMENT At the Samarkand Climate Forum, they were sitting together, hosting EU leaders and discussing joint projects to avert the disaster.
