Overview

• Banks in the United Arab Emirates have pledged to mobilize around $270 billion in green finance.
• The pledge was announced at the COP28 climate talks on the day dedicated to finance.
• Abu Dhabi will host the newly launched Global Climate Finance Centre in partnership with nine founding members including the World Bank, HSBC, BlackRock and Ninety One.
• The centre will research and develop financial frameworks to overcome barriers to investment into low-carbon projects.
• The initiatives aim to put Abu Dhabi and the UAE at the forefront of driving global change in sustainable finance.