In a recent meeting of the G20 sustainable finance working group, the United Arab Emirates (UAE) underscored the importance of impact investing as a catalyst for achieving sustainable development goals. The UAE delegation actively participated in the discussions held in Udaipur, India, where they shared their experiences and advocated for collaboration in the field of sustainable finance.
Highlighting the Significance of Impact Investing:
The UAE delegation highlighted the significant role of impact investing in advancing sustainable development goals and echoed the G20 roadmap for sustainable finance. Drawing from their own experiences, the delegation showcased the UAE's efforts in stimulating social investment through public-private partnerships. By leveraging such collaborations, the UAE has been able to drive positive change and contribute to sustainable development initiatives.
Cooperation for Capacity-Building:
Recognizing the need for expertise and knowledge in the sustainable finance sector, the UAE delegation urged the G20 to collaborate with sustainable finance experts in developing capacity-building programs. These programs aim to equip specialists in the field with the necessary skills and tools to address the evolving challenges of sustainable finance effectively. By fostering collaboration and knowledge sharing, the G20 can further support the growth and development of sustainable finance practices globally.
Participants and Discussion Focus:
The UAE delegation included prominent figures such as Thuraiya AlHashmi, Director of the International Tax Department at the Ministry of Finance, and Abdulaziz Almoalla, Head of the Banking Supervision Team at the Central Bank of the UAE. The meeting saw the attendance of G20 members, invited countries, and international organizations, fostering a diverse and inclusive dialogue.
The discussions primarily revolved around the priorities of the sustainable finance working group for the year. Participants explored strategies to mobilize finance for climate action, shared best practices, and discussed various financial tools that can contribute to financing the 2030 sustainable development goals. Additionally, participants presented local capacity-building initiatives and efforts aimed at promoting sustainable finance.
The UAE's active participation in the G20 sustainable finance working group meeting reinforces its commitment to sustainable development and impact investing. By advocating for collaboration, sharing experiences, and emphasizing the significance of sustainable finance, the UAE is playing a vital role in fostering global efforts towards achieving the 2030 sustainable development goals. As the UAE continues to pioneer innovative solutions, it sets an example for other nations to follow in their pursuit of a sustainable and prosperous future.
Note: This blog post is based on the article published by Khaleej Times on March 25, 2023. For more information, please refer to the original article.