Abu Dhabi Global Market (ADGM) said it has signed a MoU with the International Renewable Energy Agency (Irena) to boost co-operation in promoting sustainable finance across the UAE and the wider region.
As per the agreement, the duo will be committed to engage with one another to facilitate investment in renewable energy, support in the development of a sustainable finance ecosystem that is inclusive of renewable energy, and back any ongoing initiatives relating to sustainability.
Additionally, ADGM and Irena will explore additional approaches to support local initiatives, mutually promote their respective platforms, exchange information on important events and support one another in promoting common aims, initiatives and events, it stated.
Under this deal, ADGM and Irena will aim to solidify their mutual dedication to promoting solutions that facilitate investment in renewable energy, remarked Dhaher bin Dhaher AlMheiri, the CEO of the ADGM Registration Authority, after signing the pact with Francesco La Camera, the Director-General of Irena.
"With this deal, we reinforce our shared commitment to promoting sustainable practices across all sectors. ADGM is continuously looking to work with its strategic partners, locally and internationally, to further the UAE’s sustainability initiatives, including the 2030 agenda, and to safeguard the longevity of the UAE’s financial landscape," he added.
La Camera said: "Increasing investments into renewable energy and the energy transformation is essential to building a more resilient energy system and to more prosperous economies. To achieve sustainable economic and environmental development, partnerships between organisations with shared values is essential."
"The UAE has demonstrated its strong commitment to this future, and through this cooperation we aim to accelerate low-carbon investment flows building more stable, equitable and climate-safe societies," he added.