Ministry of Climate Change and Environment Enabling Climate Action with Emphasis on Green Finance
Innovative green finance is one of the key enablers of climate action, as emphasised in the National Climate Change Plan of the UAE 2017-2050, which was developed by MOCCAE in partnership with GGGI. The Plan recognises that while green finance is gaining momentum in the UAE, much work needs to be done to strengthen policy framework and regulations to link bankable projects and financiers. Thus, the Plan highlights the role of the government in providing a credible and stable enabling environment by improving policy coherence and coordination, developing adequate regulations and incentives for green technologies, and supporting capacity development for green entrepreneurs and financial institutions. It also underscores the role of financial institutions in demonstrating a clear vision that puts sustainability at the heart of corporate strategy, ensuring high-level commitment to sustainability, elevating accountability and transparency on sustainability issues within top management, and carrying out comprehensive communications and awareness raising across the board.
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