A Welcome from ADGM

[Music] good morning your highness your excellencies distinguished guests welcome to the Falcon economy and its green capital of capital today we have the seventh edition of Abu Dhabi sustainable Finance Forum this forum has emerged as one of the most anticipated climate forums in the region and a foundational platform to bring together thought leaders from government industry and Academia to exchange ideas and catalyze meaningful action as many of you would know Abu dwab is Resolute in its drive to make the city a Global Financial Powerhouse while aligning with the UA's broader ambitions for sustainability and economic diversification from establishing a comprehensive ESG regulatory framework to enabling Innovative financing instruments adgm continues to lead the charge in aligning financial markets with sustainability goals our agenda since 219 and continuing is built on four key pillars regulation awareness cooperation and importantly the ecosystem which we abbreviate as race through regulations we have developed robust Frameworks that ensure transparency and accountability many of our regulatory efforts are starting to bear fruit this reflects the impact of our dedication and our vision for example we were the first regulator to regulate Environmental instruments like carbon offsets we've introduced the Region's most comprehensive ESG disclosure requirements to promote the transparency and accountability that I mentioned as well as launching adgm framework for green and climate transition funds and portfolios as well as sustainably linked bonds and Cooks this enables investment in vehicles that align with the internationally recognized standards addressing investor concerns around disclosure and greenwashing with clear guidelines next we have awareness where we've built capacity and spread knowledge about sustainable Finance for example in 219 we coordinated the Abu Dhabi sustainable Finance declaration and today I'm proud to say it's supported by 160 entities which include Banks asset managers operational companies climate Tech as well as even AGR Tech in doing so we are fostering a shared commitment to advancing sustainability across sectors it has provided opportunities for signatures to engage directly with the regulator and also directly with each other to share practices and their commercial offerings in the area of sustainability we also have cooperation and collaboration we're helping Foster local and international Partnerships to that end we have taken a leading role in the UA sustainable Finance working group this is a prime example of a collaborative effort which has brought together UA Regulators Federal Ministries and financial exchanges the working group has developed and issued a number of key principles including sustainability related disclosure as as well as the management of climate related Financial Risk the working group is now focused on developing principles for the UA's green taxonomy and climate transition planning these initiatives align closely with the global direction of travel while addressing the unique needs of our region UA wide principles need to also be integrated into our regulatory Frameworks we've done that through our disclosure uh framework and now we're working on implementing in 2025 a framework for financial institutions to integrate physical transition and liability risks into their governance and risk management processes in a proportionate manner as always we will consult with and engage stakeholders as we introduce and enh enhancements into the future on the ecosystem we are cultivating a dynamic and inclusive environment for sustainable Finance importantly to help drive this ecosystem Abu Dhabi established the Altera fund with a $30 billion private investment vehicle for climate action through Altera efforts of those through the Altera efforts 6.6 billion US is being deployed as far through key investment managers including Black Rock Brook field tpg and S climate um funds that were launched these initiatives Altera aims to make climate Finance more accessible affordable impactful cementing its position as a key driver of global climate transition let's not forget the important steps we took to help establish the global climate Financial Center in Abu Dhabi which is also helping Foster awareness and collaboration as well as developing the ecosystem overall these efforts paint a bigger picture of abu's role as a global leader in mobilizing finance and Finance in sustainability in concluding our efforts going forward will continue to provide businesses with the tools to adapt to the Net Zero economy while safeguarding human development as well as entrepreneurial spirit I encourage all of us to reflect on the critical role the Global Financial system and Regulatory Frameworks can play in building more resilient Equitable and sustainable Global economies let's Embrace this opportunity to think big act bold and drive meaningful change thank you so much for being here today [Applause] [Music]