The European Commission, for instance, estimates that some €177 (US $ 201) billion will be needed between 2021 to 2030 to invest in clean energy and other measures to keeping average global temperature increases to below 2C as agreed internationally.
Facilitating new finance for green startups and refining existing technology is already leading to practical action on the ground, an example being the United Nations’ Financial Centers for Sustainability (FC4S), which is supporting efforts by local finance hubs to diversify into sustainable, green ventures to also help reach the Paris goals.
In line with such initiatives, the next edition of WFES (World Future Energy Summit) will offer a world-class platform for encouraging the exchange of ideas and insights while bringing innovators, entrepreneurs and public-private stakeholders to explore future possibilities.
As an enabler of Abu Dhabi Sustainability Week (ADSW), which is hosted by Masdar in partnership with the Abu Dhabi Department of Energy, WFES is set to open a window on the distinct opportunities of the Middle East and North Africa (MENA) as the global policy agenda evolves. The summit will be held from 14-17 January at the Abu Dhabi National Exhibition Center.
A highlight of WFES will be the inaugural Abu Dhabi Sustainable Finance Forum (ADSFF), a unique event to launch the Abu Dhabi Global Market (ADGM) initiative as a dynamic platform for sustainable finance consistent with the UAE Green Agenda 2015-2030 and the Paris Agreement.
“Abu Dhabi Global Market is delighted to be launching the inaugural Abu Dhabi Sustainable Finance Forum as part of the WFES. It complements the array of events designed to bring together innovators, service providers, investors, and industry professionals to create and nurture strategic partnerships and encourage a solutions-driven mindset,” says Thomas Hirschi, Banking and Insurance Executive Director at Abu Dhabi Global Market.. “The long-term goal of ADGM is to provide a regional platform for entities to invest, raise capital, manage risk and enhance returns in the context of sustainable finance. Through this forum, ADGM and WFES are facilitating dynamic partnerships needed to accelerate the achievement of that goal.”
To help maximize the potential of such advances, WFES will focus on sustainability thought-leadership while also facilitating innovator-investor partnerships under the pillars of ADSW: Energy and Climate Change, Water, the Future of Mobility, Space, Biotechnology, Tech for Good, and Youth.
Under the theme of “Mobilizing Capital for Sustainable Investments and Economic Growth”, the forum will present ADGM’s Sustainable Finance Roadmap, which seeks to boost capital flows towards long-term sustainable investments across the MENA region.
The event will feature a prestigious lineup of top global institutional investors, regulators and key influencers to discuss potential ventures according to four well-defined pillars of sustainable finance, namely Integrating Sustainability into ADGM Regulatory Framework; building Stronger Co-operation among National and International Players; fostering Greater Communication, Knowledge and Awareness of Sustainable Finance; and creating a robust ADGM Sustainable Finance Platform.
“We are very glad to host the Abu Dhabi Sustainable Finance Forum is an enabler of WFES’s mandate to connect investors with project owners and tech providers,” says Naji El Haddad, Group Event Director at REED Exhibitions. “Through such initiatives, WFES is facilitating the dynamic investment partnerships needed to accelerate the development and commercialization of innovations that can have global benefits.”
By strengthening its position as a regional sustainable finance hub, Abu Dhabi is playing an active part in driving the global sustainability agenda while also serving the distinct needs and opportunities of the MENA region.
Through the global policy leadership provided by ADSW and the enabling platforms of WFES, innovators and investors are forging the viable, commercial solutions that enable sustainable development and diversification into visionary clean tech at both the local and global levels.
