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Sunday, December 10, 2023

New ‘Sustainable Fintech Commitment’ announced


The Ministry of Climate Change and Environment (MOCCAE) and the Middle East and North Africa Fintech Association (MFTA) today announced the launch of the Sustainable Fintech Pledge, which aims to integrate sustainable development principles into the operations of fintech companies Contribute to a more resilient and prosperous future.

The Sustainable Fintech Commitment is in line with the MENA Fintech Association’s response to the climate crisis and in line with the UAE’s ‘Net Zero 2050’ strategic initiative.

The pledge was launched at the headquarters of the Ministry of Climate Change and Environment in the presence of Minister of Climate Change and Environment Mariam bint Mohammed Almheiri, MFTA Chairman Nair Khan and representatives of the Ministry and the Ministry of Environment. association.

Almheiri said: “The Sustainable Fintech Pledge is a tangible example of the transformative power of technology to achieve sustainable development. It reflects our commitment to building a more sustainable, The promise of a resilient future.”

“By supporting green finance, we aim to build businesses committed to sustainable economic development while building projects that fulfill the UAE’s climate and environmental commitments, thereby achieving the goals of the UAE’s Net Zero by 2050 strategic initiative. We invite the country to more of companies and financial institutions join this commitment and actively contribute to the UAE’s move towards a more sustainable future,” she added.

Signatories to the pledge, including prominent organizations such as Abu Dhabi Global Market (ADGM), Dubai International Financial Center (DIFC), BPC, etc., committed to five core principles: integrating sustainable development into business operations, maintaining transparency and accountability , inspire change beyond organizational boundaries, unleash climate innovation in finance, and encourage the development of sustainable fintech products and services.

Nameer Khan commented: “The Sustainable Fintech Commitment is an ambitious but achievable initiative. We at MFTA are very proud to launch this movement. We will also provide the necessary help to ensure our fintech members successfully deliver sustainable fintech solutions.”

The Middle East and North Africa FinTech Association is a not-for-profit association that fosters open dialogue among the Middle East and North Africa fintech community to shape the future of financial services in the region. The sustainable fintech commitment is an integral part of MFTA’s wider sustainability strategy, which includes a broad sustainability programme, the Sustainable Fintech Alliance (SFA), and partnerships with the London School of Banking and Finance and Edinburgh Business School, among others. Institutional cooperation.

The Ministry of Climate Change and Environment and the MENA Fintech Association invite fintech companies from all regions to join the Sustainable Fintech Commitment and help shape a more sustainable future.


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