DIFC & Global Ethical Finance Initiative unite to support COP28 agenda

By Shilpa Annie Joseph, Official Reporter
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DIFC-GEFI Launch Partnership
Officials from DIFC & GEFI during the signing ceremony | Image Courtesy: WAM

Dubai International Financial Centre (DIFC) has entered into a year-long partnership with the Global Ethical Finance Initiative (GEFI), ahead of the 28th Conference of the Parties (COP28) taking place in Expo City Dubai.

COP28 will be held in November 2023 and will see world leaders from the public and private sectors congregate to make progress on climate-related matters.

DIFC and GEFI will drive change across the world’s financial industry relating to delivering net zero, unlocking Islamic Finance, financing nature and biodiversity, and financing sustainable development goals.

According to the statement, “As host financial center for GEFI’s Path to COP28 program, DIFC will support a series of report launches, roundtables, and community engagements during the next 12 months.”

Arif Amiri
Arif Amiri
CEO – DIFC Authority

“DIFC and GEFI are delighted that the financial services sector is the first industry to launch a program that aligns with the UAE government’s COP28 agenda. DIFC is perfectly placed to be the host financial center for the Path to COP28 program given the progress we have already made and will continue to make on climate-related matters with our clients. We are looking forward to working with the GEFI and senior members of the local, regional, and international finance community to embrace this initiative and truly make a difference.”

The partnership aligns with DIFC’s Strategy 2030 and reflects its progress on driving Dubai’s reputation as the region’s leading sustainable financial hub.

Mr. Omar Shaikh, Co-Founder and Managing Director of GEFI, said that, “Our Path to COP28 campaign seeks to encourage and support financial institutions in transitioning from commitment to actual implementation, measurement, and reporting.”

“The maturity and foresight of the UAE government and DIFC as a world-class financial center is critical to encouraging the regional financial sector to ramp up its environmental awareness and commitment towards achieving the COP targets,” Mr. Shaikh added.

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