Elevating Dubai as a Global Hub for Sustainable Financial Innovation

On the new era of sustainability and resilience, under the COP 28 critical moment for global transformative climate action, DIFC understands and upholds the need of Sustainability is the new future. In a groundbreaking move, the Dubai International Financial Centre (DIFC) has launched the Sustainable Finance Catalyst to mark COP28’s Finance Day, setting ambitious targets to propel sustainable finance flows from Dubai to over USD 100 billion by 2030. Unveiled on Finance Day during COP28 in 2023, this initiative not only solidifies DIFC’s status as the first global sustainable finance hub in the Middle East, Africa, and South Asia (MEASA) region but also marks a significant legacy to the COP28 conference.

Arif Amiri, Chief Executive Officer, DIFC Authority, said: “During DIFC’s Path to COP28 programme we have worked with the global industry to ensure we continue to make a tangible difference through cross-border collaboration and by setting a strong example of global best practice. The Sustainable Finance Catalyst is designed to help scale our efforts enabled by the first AI-driven sustainability knowledge hub, and a network of strategic partners that will train 1 million sustainability leaders and ultimately grow the Centre’s sustainability-driven start-up ecosystem 50 times its current size by 2030.”

At the core of the Sustainable Finance Catalyst is a commitment to harnessing the power of artificial intelligence (AI) through the world’s first AI-driven sustainability knowledge hub. This technological marvel is set to redefine sustainable finance by providing a centralized intelligence unit dedicated to accelerating Dubai’s presence in the global market. The initiative aims to offer rapid and cost-effective access for companies seeking sustainability knowledge, data, and financing solutions.

The Sustainable Finance Catalyst sets forth several key objectives to be achieved by 2030:

1. USD 100 Billion Sustainable Finance Flows: The catalyst aspires to elevate sustainable finance flows from Dubai to an impressive USD 100 billion, signaling Dubai’s unwavering commitment to becoming a frontrunner in the global sustainable finance arena.
2. Centralized AI-Driven Sustainability Knowledge Hub: Housed at the state-of-the-art DIFC Innovation One, the catalyst aims to establish itself as Dubai’s premier central intelligence unit on sustainable finance. Its focus on investing in awareness, capability, and innovation positions the city as a global leader in sustainable financial intelligence.
3. 1 million Trained Sustainability Leaders: The initiative seeks to activate a network of strategic partners to train 1 million sustainability leaders. This investment in human capital underscores the importance of cultivating a skilled workforce to propel sustainable finance practices.
4. 50x Growth in Sustainability-Driven Start-ups: The Sustainable Finance Catalyst envisions fostering a dynamic ecosystem by catalyzing a 50-fold growth in its sustainability-driven start-up network by 2030. This audacious target underscores the commitment to nurturing innovation and entrepreneurship within the sustainable finance sector.

Dubai is leading the global push for sustainable finance through initiatives like the Sustainable Finance Catalyst. The Dubai International Financial Centre (DIFC) is using advanced technologies, forming key partnerships, and prioritizing education and innovation to make the city’s financial sector more eco-friendly. This effort benefits Dubai and serves as a model for other financial hubs worldwide. The impact of this initiative is expected to reach beyond local borders, influencing sustainable finance on a global level.

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