ABU DHABI, Abu Dhabi Global Market (ADGM), and Emirates Nature–WWF have signed a Memorandum of Understanding (MoU) to progress the implementation of sustainable finance practices across the UAE and the wider region.
Through the MoU, Emirates Nature–WWF and ADGM will collaborate on common aims, initiatives, and events for enhancing the development of a sustainable blue economy, which details the provision of social and economic benefits relevant to the marine environment, as well as the increased integration of sustainable finance practices. In addition, the collaboration will explore new approaches and initiatives for environmental, social and governance (ESG) approaches, climate change nexus and best practice.
Commenting on the agreement Juma Al Hameli, Senior Executive Director, Strategy and Business Development at ADGM said, “The signing of this MoU alongside our esteemed partner Emirates Nature–WWF is a testament to our shared commitment to accelerate sustainable practices across the UAE and build a progressive resilient future. ADGM has been advocating the adoption of sustainable practices, as it aims to develop a sustainable finance ecosystem within the UAE and the wider region. Through this agreement, we will continue to support the UAE’s sustainability agenda and aid in safeguarding the longevity of the economy and well-being of the environment and society.”
Laila Abdullatif, Director-General of Emirates Nature-WWF, said, “Nature, including marine ecosystems, is vital to our wellbeing and long-term economic prosperity. We are proud to join hands with our esteemed partner ADGM to support the UAE’s sustainability agenda addressing the current global climate crisis and pursuing a sustainable economy for a better world for us all. Recognizing the crucial role of sustainable finance in achieving a more viable and an economic model in harmony with nature, Emirates Nature–WWF through this partnership aims to promote the practice of the Sustainable Blue Economy and explore innovative solutions that balance profit with long-term environmental and social needs.”
Emirates Nature-WWF, founded in 2001, partners with individuals and institutions to achieve science-based solutions to combat climate change and safeguard the seas, the land and their associated biodiversity. As the leading non-profit organisation established to drive positive change in the UAE, the team is ambitious and optimistic about the challenges that lie ahead. Promoting the value of marine ecosystems and the need for action to protect and restore the health of our seas has been a core focus, in collaboration with a wide range of partners, and is very much seen as a solution to support economic resilience after the COVID-19 pandemic.
Source: Emirates News Agency