DIFC hosts world’s first finance summit on COP28 agenda in global finance

As part of the DIFC-hosted Global Ethical Finance Initiative’s Path to COP28 programme, over 500 industry professionals attended the first in a series of summits serving as a platform to drive proactive action in the finance industry to lead the charge on climate change and be at the forefront of accelerating the green transition. The event featured an A-list line-up of speakers and attendees from leading investment firms, banks, policymakers, and financial service providers to discuss COP28 priorities for the sector and how to implement best practice decision-making across their organisations.

The findings of the world’s first global islamic finance retail banking survey and its implications on United Nations Sustainable Development Goals (SDGs) were released at the event. The survey attracted responses from more than 2,000 customers. 90 per cent of Islamic banking customers across a range of markets say that is it important their bank provides products that are aligned to the SDGs. 96 per cent responded by saying it is important that finance products they purchase fit with the values and ethics in their life. 87 per cent are willing to pay more for financial products that are aligned to the SDGs.

Christian Kunz, chief strategy, innovation and ventures officer at DIFC, said: “DIFC and our clients are leading the approach on how the finance industry can play a significant role in tackling the climate crisis. As a significant contributor to the sustainable economic growth of the emirate, the DIFC is deeply committed to actively contributing the UAE’s role as host of the next UN climate talks – the second largest in the history of climate summits.”