His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment, participated in the High-level Forum on Climate Finance Strategies for NDC Implementation, a key event organized by the United Nations Framework Convention on Climate Change (UNFCCC) and the World Green Economy Organization on the sidelines of the 25^th Conference of the Parties (COP25) to UNFCCC.

The forum highlighted regional and national strategies to mobilize and access climate finance to meet the priorities of developing countries, as outlined in their nationally determined contributions (NDCs) under the Paris Agreement.

Addressing the forum, His Excellency Dr Al Zeyoudi asked the international community to boost sustainability-driven investments and financing, thereby expediting the transition to a green economy to help step up climate action and create a better future for present and future generations.

Showcasing the UAE’s world-leading experiences in this area, the Minister said: “The country’s wise leadership made critical and ambitious strides in the transition to a green economy through approving the UAE Green Growth Strategy. This initiative consolidates the UAE’s environmental stewardship and its status as a hub for the export and re-export of green products and technologies. In doing so, it seeks to help support long-term economic growth.”

He added: “To meet our solid commitment to driving sustainability ventures, we unveiled the Dubai and Abu Dhabi Declarations on Sustainable Finance that commit UAE-based financial institutions to support the country’s green economic agenda through financing sustainable projects. To date, both declarations have gained the endorsements of 57 signatories. We also launched the Dubai Green Fund, with the goal of raising US$27 billion to fund green projects in the emirate. An example of best practice is the commitment of First Abu Dhabi Bank to financing US$10 billion for green businesses over the next several years and its issuance of a US$587 million 5-year green bond in 2017. Notably, HSBC Middle East and Emirates NBD have also introduced green auto loans to promote hybrid or electric vehicles.”

His Excellency Dr Al Zeyoudi also participated in an informative meeting organized by the UAE Embassy in Spain for Spanish representatives of the public and private sectors and members of the diplomatic corps. In his presentation, he offered Spanish participants insights into the UAE’s long journey of environmental work and the country’s efforts in tackling climate change and biodiversity loss at home and further afield.

His Excellency Dr Al Zeyoudi is leading the UAE delegation to COP25 that is running from December 2 to 13, 2019, in the Spanish capital, Madrid. The delegation comprises 87 members, including representatives of the public and private sectors as well as youth.