With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is making strides towards a greener future, says an expert.

"The UAE's financial markets are proactively broadening sustainable finance options. The Dubai Financial Market has rolled out regulatory frameworks for environmental, social, and governance reporting, urging listed companies to enhance ESG information disclosure and adopt ESG reporting practices," she adds.

The financial services sector is witnessing transformative changes, driven by rising demands for personalized services and the integration of cutting-edge technologies.

"Together, we are working under the direct supervision of the Central Bank of the UAE to further advance sustainable finance in the region. Collaboratively defining a framework for accountability and best practices will encourage the transition to a climate-neutral, resource-efficient, and resilient economy," he adds.

The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems, and the promotion of energy security.

‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds’.

The Gulf country will reveal the mechanisms for implementing its strategic initiative to achieve climate neutrality 2050, as part of its support for sustainable financing solutions for all sectors. This is alongside a comprehensive assessment of the status and movement of sustainable financing solutions, she adds.

The fund has hired a large group of banks including Citi and JPMorgan to arrange a debut issuance of multi-tranche US dollar-denominated green bonds.

Apicorp is a multilateral development financial institution.