DFSA And Hong Kong Monetary Authority Host Second Joint Climate Finance Conference In Dubai

The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority (HKMA) recently held the second DFSA–HKMA Joint Climate Finance Conference. This event, which took place in Dubai, was attended by nearly 250 participants from financial institutions, industry associations, and international organisations from both regions. The conference focused on addressing financial risks linked to climate change and fostering innovation.

The conference served as a platform for discussions on how the Middle East and Asia can collaborate using their financial and technological strengths. The aim is to develop innovative products and solutions that support energy transition and sustainable development goals. This initiative is part of the DFSA-HKMA partnership's flagship efforts to promote climate finance in these regions.

A significant highlight was the presentation of findings from the DFSA-HKMA joint research titled "Scaling Sustainable Debt in Emerging Markets." Developed with BloombergNEF, this research explores sustainable debt's role in enhancing climate finance in emerging markets. The study provides insights into how sustainable debt can be scaled up effectively.

Strategic partners like Dubai International Financial Centre (DIFC) Authority, Nasdaq Dubai, and Hong Kong Exchanges and Clearing Limited (HKEX) supported the conference. It featured prominent speakers from business, commerce, and financial services sectors across Asia Pacific and Middle East North Africa regions. Their involvement highlights the event's importance as a platform for cross-industry dialogue.

Mark Steward, Chief Executive of the DFSA, emphasised the potential of emerging technologies like tokenisation to enhance climate finance transparency and efficiency. Steward stated, "By combining our strengths as international financial centres, we are creating new pathways for sustainable investment and innovation." These technologies could make climate finance more globally accessible.

Darryl Chan, Deputy Chief Executive of the HKMA, highlighted the unique position of Dubai and Hong Kong in facilitating climate action across Asia and the Middle East. Chan remarked, "Dubai and Hong Kong are in a unique position to facilitate climate action across Asia and the Middle East." He stressed the urgency of bridging gaps between markets, capital projects, ambition, and execution.

The conference underscored its role as a premier venue for knowledge sharing and collaboration on initiatives that drive long-term value. It aims to foster responsible investment in these regions by providing a platform for essential dialogue among stakeholders.

With inputs from WAM