Abu Dhabi Finance Week commenced today at The Abu Dhabi Global Market, with a focus on “investing in the transition era” as nations intensify investments in reducing emissions and achieving net-zero targets in the coming decades.
Senior officials, including Abdulla Bin Touq, Minister of Economy, and Mariam Al Mheiri, Minister of Climate Change and Environment, will join executives from the business world in addressing the four-day event.
Global financial industry leaders will gather to explore the “opportunities and challenges presented by the economic, technological, and sustainability shifts impacting the global economic landscape,” according to organizers, according to The National News.
Cop28 Climate Summit in Dubai to Address Climate Financing
This event precedes the Cop28 climate summit in Dubai, where climate financing will be a central theme, occurring amid global economic challenges such as high inflation, tightening monetary policy, and geopolitical issues arising from the Ukraine war and conflicts in the Middle East.
On the first day, Mr. Bin Touq will outline the economic policies of the UAE and key components for future growth, as the country, the Arab world’s second-largest economy, continues to expand through its economic diversification agenda. The UAE economy is projected to experience a growth of 3.4 percent this year, with oil GDP growth expected to reach 0.7 percent and non-oil GDP anticipated at 4.5 percent. This growth is supported by strong performances in tourism, property, construction, transport, manufacturing, and increased capital expenditure.
Speakers on the first day include Jamie Dimon, chairman and chief executive of JP Morgan Chase, Waleed Al Muhairi, deputy group chief executive of Mubadala Investment Company, Ray Dalio, founder of the US-based investment management firm Bridge Water Associates, and Sajid Javid, former UK chancellor of the exchequer. More than 10,000 global financial leaders attended the event.
Abu Dhabi investment and holding company ADQ will discuss its activities over the last five years, covering energy, utilities, food and agriculture, healthcare, pharmaceuticals, mobility, and logistics. This year’s Abu Dhabi Finance Week will encompass about 30 different events, including the Abu Dhabi Economic Forum, Asset Abu Dhabi, FinTech Abu Dhabi, and the Global Financial Regulators Summit.
Additionally, there will be a breakout sustainable finance conversation, the Race Sustainability Summit, exploring topics such as green finance, the transition to net zero, bridging the trillion-dollar climate financing gap, and the increasing role of youth in sustainability.
