Abu Dhabi Global Market (ADGM), the international financial centre in the UAE’s capital, successfully concluded the sixth edition of the Abu Dhabi Sustainable Finance Forum (ADSFF) at COP28 UAE. Held on the Finance, Trade & Gender Equality thematic day of COP28 UAE and as part of Abu Dhabi Sustainability Week (ADSW), ADSFF’s agenda focused on ‘Building Green Financial Centres of the Future,’ as the nation continues to host one of the most anticipated climate discussion forums this year.
The compelling discussions delved into evolving strategies of the world’s largest Sovereign Wealth Funds (SWFs) and their stakeholders, making emerging market projects more appealing to global capital markets, navigating the evolving regulatory landscape of green finance, and the banking sector's role in financing climate transitions. Additionally, topics included improving carbon market efficiency and preparing for financing the upcoming sixth wave of innovation applied to climate action technologies.
Global Head of Infrastructure from SWF giants ADIA, Karim Mourad, shared insights into their sustainability strategies, emphasising their unique position to promote long-term value creation and sustainable market outcomes.
A thought-provoking session highlighting Abu Dhabi as ‘The Rising Capital of Climate Finance’ at ADSFF saw the newly appointed CEOs of the recently launched USD$30 billion fund, ALTÉRRA, His Excellency Majid Al Suwaidi, who also holds the position of Director General and Special Representative of COP28 UAE, and Mercedes Vela Monserrate, CEO of the Global Climate Finance Centre (GCFC), take stage and deep-dive into their vision with the fund and the centre, respectively, as well as elaborate on how it will accelerate climate financing, globally.
Key international and regional speakers included His Royal Highness Prince Khaled bin Alwaleed bin Talal Al Saud, CEO of KBW Ventures; Michael Mainelli, Lord Mayor of the City of London; Daniel Pinto, President and COO of J.P. Morgan Chase; Laurent David, Deputy COO of BNP Paribas; Frank Elderson, Executive Board Member of European Central Bank; Daniel Hanna, Global Head of Sustainable Finance at Barclays; Gabriel Caillaux, Co-President of General Atlantic; and Pierre Abadie, Head of Climate Finance at Tikehau Capital.
Through the launch of the GCFC, Abu Dhabi and ADGM aim to address key barriers linked to financial frameworks that hinder investment flows, to help make climate finance available, affordable, and accessible as a COP28 UAE legacy for action.
Approximately 600 attendees including speakers and participants attended the event this year, making it one of the key sustainability events held at COP28 UAE.
As COP28 UAE kick-started with strategic discussions on 1 December 2023, ADGM parallelly announced becoming home to the newly launched catalytic climate vehicle ALTÉRRA established by Lunate the global alternative investment management company, the world’s largest private climate investment vehicle worth USD$30 billion.
ADGM is the ‘Principal Climate Finance Partner’ at COP28 UAE and is playing a pivotal role in shaping the global dialogue on climate finance and aligning international efforts towards climate action as it continues to host various discussions at the Connect Conference Centre (C3) during COP28 UAE.
ADSFF is a goal-oriented and collective effort by the UAE’s financial sector to advance sustainable finance and investment of projects and initiatives that augment the country’s national climate goals and ambition towards a better and more sustainable future.