DIFC, Global Ethical Finance Initiative join hands to support COP28 agenda

Dubai International Financial Centre (DIFC) has entered 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 in November next year.

As the host financial centre for GEFI’s Path to COP28 programme, DIFC will support a series of report launches, roundtables and community engagements during the next 12 months, according to the Dubai Media Office.

DIFC and GEFI aim to 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

Arif Amiri, CEO of DIFC Authority, said, “DIFC and GEFI are delighted that the financial services sector is the first industry to launch a programme that aligns with the UAE government’s COP28 agenda.

“DIFC is perfectly placed to be the host financial centre for the Path to COP28 programme 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.”

Omar Shaikh, co-founder and MD of GEFI, said, “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 centre is critical to encouraging the regional financial sector to ramp up its environmental awareness and commitment towards achieving the COP targets.”

The Path to COP28 initiative complements the recent launch of the Dubai Sustainable Finance Working Group’s self-assessment tool for measuring the maturity of environmental, social and governance (ESG) policies and practices in companies.