Abu Dhabi (Al Etihad)
Today, in the capital, Abu Dhabi, the Arab Monetary Fund hosted the third regular meeting of the Green and Sustainable Finance Network in the Arab Countries, which will be held over two days. The meeting aims to enhance green and sustainable financing practices in the Arab world, and help member states keep pace with global developments in this field, in addition to Increasing the role of the financial system in managing risks resulting from climate change, mobilizing capital for green and low-carbon investments, supporting circular carbon economy efforts, and improving energy security in Arab countries, within the framework of sustainable development goals.
Representatives of central banks, Arab monetary institutions, ministries of finance, and capital market authorities in Arab countries will participate in the meeting, in addition to a number of experts and speakers from regional and international partner institutions, such as: the Bank for International Settlements, the International Monetary Fund and World Bank, the International Finance Corporation, and the Islamic Development Bank Group. The International Renewable Energy Agency, the Greening the Global Financial System Network, the United Nations Climate Finance Fund, the International Organization of Financial Markets Commissions, the Arab Financial Markets Union, and the Abu Dhabi Global Market.
The network works to support the trend towards green and sustainable financing in Arab countries, by providing advice and technical assistance to national authorities to develop and modernize their systems, studying ways to exchange experiences in this field, expanding opportunities for cooperation and capacity building, and enhancing cooperation between various Arab institutions and official bodies and institutions. Relevant international organizations and similar international committees and federations, and creating opportunities to exchange expertise and experiences between Arab countries in the field of green and sustainable finance, which contributes to keeping pace with the development of financial activities and services and green and sustainable products, in addition to enhancing awareness of issues of green and sustainable finance and climate change risk management through holding seminars. And workshops.
On the first day, the meeting examines sustainable financing trends and financing the transition to a low-carbon economy, through five sessions that address the opportunities and challenges of financing in the transition to a low-carbon economy, the critical role of regulatory frameworks in promoting sustainability, and innovative green financing tools and investment strategies, including green bonds. Environmental, social and government factors, and the interconnection between energy transformation and security and sustainable financing, while the fifth session includes transparency in climate-related disclosures, responsible practices, and reducing the risks of green camouflage.
The second day's discussions include four sessions, including the financial role in preserving biodiversity and sustainable development, and the impact of modern technologies, artificial intelligence, and block chains on sustainable finance.
The eighth session focuses on voluntary carbon markets and their contribution to achieving carbon neutrality goals, and the impact of regulations and policy frameworks, while the closing session holds a round table to exchange knowledge, and the network concludes its meeting by discussing the agenda of the next meeting, and the requirements for collecting questionnaires from members.
Dr. Fahd bin Mohammed Al Turki, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, expressed his happiness with the establishment of this network in order to enhance opportunities for exchanging expertise and experiences, and transferring knowledge between Arab countries, with regard to climate financing, noting that the noticeable growth in the volume of sustainable financing in the region Arabic reflects the growing interest in green and sustainable finance by authorities and decision makers.
#Arab #Monetary #Fund #organizes #meeting #Green #Sustainable #Finance #Network