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Abu Dhabi Global Market commits to new sustainable finance regulations

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Abu Dhabi Global Market Abu Dhabi Global Market (ADGM) has successfully implemented its sustainable finance regulatory framework with immediate effect after receiving significant support during the public consultation period.

The new framework covers sustainability-oriented investment funds, rules for managing investment portfolios and bonds, and ADGM’s environmental, social and governance (ESG) disclosure requirements for companies.

New measures aim to accelerate the development of a sustainable financial ecosystem in the region and support the UAE’s move towards net zero emission of greenhouse gases.

Consistent with ADGM’s focus on stakeholder engagement, feedback statement It was also published to reflect the meaningful feedback received and address key issues raised in response to the consultation paper and through relevant stakeholder engagement.

Industry support for its proposal, including stakeholders who have indicated plans to launch products under the proposed framework, ensures that ADGM adheres to a comprehensive sustainable finance framework.

“Finance is the key to turning good wishes into reality”

Dr Sultan Al Jaberpresident-elect twenty-eighth meeting of the conference of the parties The UAE said: “I warmly welcome ADGM’s regulatory framework for sustainable finance. Lack of available, accessible, affordable finance is putting the world’s climate goals and sustainable development at risk One of the country’s top priorities.To make progress on transformation, we need to change the way we mobilize private finance.

PhD.Sultan Jaber
Dr. Sultan Al Jaber, UAE Chair-Elect, COP28

“ADGM’s efforts to advance this important initiative and establish a global hub for sustainable finance are highly commendable. This initiative will play a vital role in mobilizing capital to enable the transition to net zero in the UAE and emerging market economies important role and will facilitate an increase in green transactions by local and global financial institutions.

“I also welcome the ongoing work of the Sustainable Finance Working Group, chaired by ADGM, comprising UAE regulators, federal ministries and exchanges. These initiatives include working together to advance ESG disclosure frameworks, requiring Measures for corporate governance focused on sustainable development and the development of a green taxonomy for the UAE.

“Finance is key to turning good intentions into reality. The Paris climate agreement set our collective ambitions and we need initiatives like ADGM’s Sustainable Finance Regulatory Framework to help us keep our 1.5°C target within reach Inside.”

Driving Abu Dhabi’s transition to net zero

Jassim Zabichairman Abu Dhabi Global MarketSaid: “As the UAE hosts COP28 this year, ADGM is proud to align with the country’s leadership in declaring this year as the Year of Sustainable Development. We believe our sustainable financial regulatory The most comprehensive in South Asia, comparable in scope and content to the most comprehensive regulatory frameworks globally.”

Ahmed Jasim Al Zaabi, Sustainable Finance, Abu Dhabi
Ahmed Jassim Al Zaabi, Chairman, Abu Dhabi Global Markets

“Our requirements, particularly those that set minimum standards for sustainability-focused products and services, will help direct capital to projects and activities that drive the country’s transition to net zero.

“We appreciate the feedback from market participants, which reflects the excellent relationship between ADGM and its stakeholders in our sustainable finance ecosystem.

“Their participation remains critical as ADGM actively supports the UAE’s 2050 net-zero emissions goals and the continued development of Abu Dhabi’s Green Falcon economy.”

The sustainable finance regulatory framework is also supported by: Abu Dhabi Manifesto on Sustainable Finance The agreement has more than 100 signatories, Sustainable Finance Academy At ADGM Academy.

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