The UAE efficiently concluded its participation within the fourth and final Sustainable Finance Working Group (SFWG) assembly throughout the G20 Finance Observe for 2022, which was held below the Indonesian Presidency on 26 and 27 September 2022. The assembly was held at Bali, Indonesia, and sought to debate the ultimate model of the working group’s deliverables throughout 2022, and supply members with an replace on the progress made on the G20 Sustainable Finance Roadmap.
Thuraya Al Hashemi, Tasks Supervisor on the Ministry of Finance represented the UAE within the assembly. G20 members, invited nations, representatives of worldwide organisations, and SFWG companions such because the United Nations Improvement Programme (UNDP), the Worldwide Financial Fund (IMF), and the Organisation for Financial Co-operation and Improvement (OECD) additionally attended the assembly.
Through the assembly, the UAE workforce shared suggestions associated to the Sustainable Finance Roadmap, comparable to emphasising the necessity to assess the influence of the initiatives offered by the group and worldwide organisations. That, along with the significance of assessing the monetary burdens of low-income nations to finance their transition to wash power. The UAE workforce additionally offered a case research on the nation’s pioneering efforts and the progress made by monetary regulators to construct an built-in regulatory and legislative surroundings for sustainable finance within the nation, in keeping with the UAE Internet Zero 2050. Lastly, the UAE reviewed the priorities for making ready to host the twenty eighth session of the Convention of Events (COP 28) to the UNFCCC (United Nations Framework Conference on Local weather Change) subsequent yr.
Through the assembly, the SFWG members mentioned the progress made on the G20 Sustainable Finance roadmap, choices to scaling-up sustainable finance devices, and suggestions for bettering monetary establishment commitments in direction of the transition.
The SFWG accomplished the assessment of the paperwork and agreed to submit the reviews for endorsement of the ministers throughout the subsequent G20 Finance Ministers and Central Financial institution Governors (FMCBG) assembly, which will probably be held on 12 and 13 October 2022 in Washington.
-Ends-
For extra info, please contact:
Mary Khamasmieh
Weber Shandwick
E: mkhamasmieh@webershandwick.com
Rawad Khattar
Weber Shandwick
E: RKhattar@webershandwick.com
Sara Abuhassira
Weber Shandwick
E: SAbuhassira@webershandwick.com
