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DIFC prepares financial services sector for COP28

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The Dubai International Financial Center (DIFC), the world’s leading financial centre, has underscored its commitment to addressing climate change with the launch of an exclusive training programme.

Commissioned by the DIFC Academy, a training and development platform established by the DIFC Authority, and jointly delivered by the Global Ethical Finance Initiative (GEFI), working towards the United Nations Sustainable Development Goals, the ‘Climate Finance Training’ ‘series’ is DIFC’s gateway to COP28 part of the road activities.

Overall, the training series will help financial services practitioners understand the United Nations Framework Convention on Climate Change (UNFCCC) COP28 process, global trends in climate finance, and best practice methodological strategies for developing and implementing net zero emissions .

Course Module

Course modules include deconstructing COP28 and the role of financial services; From global to local – addressing climate finance regulations; Initiatives and frameworks; From talk to action – formulating and implementing climate policy; Objectives and COP 28 preview – financial expectations. The program includes global case studies and will assist practitioners in supporting the UAE Green Agenda, the National Climate Change Plan and the UAE 2050 Net Zero Strategy initiative.

The first module of the training program will be delivered on 12 January 2023 and has already attracted more than 300 registrations. Subsequent modules will be delivered in March, June and October 2023.

Academics including David Pitt-Watson, Research Fellow at Cambridge Judge Business School, and Dr Ian Cochran, Director of the MSc in Climate Change Finance and Investment at the University of Edinburgh, UK, are behind the bespoke course, which can be taken online or in person. The program is also CPD accredited and provides a pathway to official professional accreditation.

elite speaker

Speakers also included prominent practitioners Tara Schmidt, Head of Climate Change and Sustainability Strategy, Lloyds Banking Group, and Leah Ramoutar, Head of Climate and Nature Risk, Phoenix Group.

Commenting on the launch of the scheme, Alya Al Zarouni, Executive Vice President Operations, DIFC said: “The pressure on financial institutions and stakeholders to commit to net zero will only increase. The financial services industry therefore needs to act quickly ahead of COP28.” Climate Finance The training series “aims to educate the industry on the importance of global trends in climate finance and the best ways to create and implement net zero initiatives.”

In October 2022, DIFC and GEFI announced a 12-month partnership ahead of COP28 in Dubai. The partnership is in line with DIFC’s 2030 strategy and reflects the progress it has made in enhancing Dubai’s reputation as the region’s leading sustainable finance centre.

Over the years, GEFI has become a thought leader at the center of the ethical finance movement. It curates independent dialogue among a broad coalition of financial services stakeholders and delivers practical projects. — trade arab news agency

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