Closing Remarks

We have the European flag up here. And the reason that we do wanted to have the European flag up here is that as was mentioned by the commissioner, the European Union is the largest provider globally for climate finance. So if Europe was not present in this uh fourth day for sustainability of the Abu Dhabi finance week there would be something wrong and also Europe has been the one uh global power if I can say that has been demonstrating that things can work. So for example, Europe has shown with the Euro with the emissions trading scheme that mobilized I just remind you 170 billion euros since 2013 that it was created that decarbonization can actually be a very good money maker and this is why we work together with this region because we help join forces with many actors to invest in this carbonization in investing in renewable energy and so on so forth. Um I want to close by saying that Europe is and will remain the driving force for this decarbonization and green economy.

Uh this has been very very uh I would say uh consequently done by the European Union for a number of years since uh at least 20 years now. that has been a driver and of course this has not uh been always well received by others who want to to to focus on different things but Europe will continue to be here. Europe will continue on being the one who regulates the one who shows the examples who shows those markets and I think this is very important. So I think that in the context of what we heard today in our session here um the triangular collaboration between the European Union, the GCC region and of course the UAE and I was very very happy to hear by the commissioner today about both the kickoff of the strategic partnership with the Europe with the United Arab Emirates and also the beginning of the talks for the free trade agreement. These are very important regulation and and collaboration points that drive this kind of collaboration.

We'll be doing this a lot in the GC region, but also to take into account the importance of working in the triangular part that we said. So Europe, GCC, North Africa and the broader Africa region. The opportunities are huge. The willingness and the knowhow is there. And I think that we need to take those opportunities to really make it happen.

I will just take one minute because I want to mention some institutions and people that have been very important for us being for the first time as the European Union in the Abu Dhabi finance week u and having the European flag up there. So I want first of all to thank our now colleagues and friends in the Abu Dhabi Global Markets ADGM and the Abu Dhabi Finance Week organizers. We've actually become friends through organizing this together which doesn't happen all the time. And of course, I want to thank the European Commission and the delegation of the European Union in the UAE. I need to tell you that when I first mentioned that we should be organizing the finance and investment segment in Abu Dhabi Finance Week, they looked at me as if I was half mad and then I was so happy to see that the ambassador herself really grasped the idea and worked very close with us together with all of her team in the delegation to make it happen.

Finally, I want to thank our own project team and Raner who is the organizing power behind all this and everybody else who's worked with us and hopefully uh tell you that we'll see each other next year at the Abu Dhabi Finance Week but of course we'll be doing many more things before that. So, thank you so much