The Introduction of the Global Climate Finance Centre in Abu Dhabi facilitates sustainable investments

A Global Climate Finance Centre is planned to be established in Abu Dhabi as one of the climate protection measures following the Cop28 summit. This centre aims to develop frameworks for sustainable project financing within the UAE and worldwide, with a particular focus on addressing challenges of climate investments.

Experts at the Organisation for Economic Co-operation and Development estimate that developing countries will need at least USD 2.4 trillion a year to take proactive environmental actions by 2030. The GCFC will support all sectors in their efforts to change the situation and will facilitate the accessibility of climate finance and the transition to a low-carbon economy.

The Global Climate Finance Centre will operate an academy to share its developments and analytical insights with interested parties across various industries. In particular, the centre is targeting the private sector, and expects that its research will help in boosting the UAE's expertise for climate investment and ensure the inflow of funds into sustainable projects.

The foundation of the Global Climate Finance Centre in Abu Dhabi Global Market was announced by Cop28 President, Dr Sultan Al Jaber on 1st December. The GCFC will be headed by ADGM's sustainability leader, Mercedes Vela Monserrate, and founding partners include ADGM, ADQ, BlackRock, Children's Investment Fund Foundation, Glasgow Financial Alliance for Net Zero, HSBC, Masdar, Ninety One, and the World Bank Group.

The Global Climate Finance Centre will speed up the development of green finance initiatives and practices, giving a push to sustainable projects across the region. The Centre will create conditions to transform financial markets and bring Abu Dhabi and the UAE to a new level of climate investment.