The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority (HKMA) concluded their inaugural Joint Climate Finance Conference on September 16, 2024.
The hybrid event, held in Hong Kong, gathered over 240 participants from financial institutions, industry associations, and international organizations across Asia and the Middle East.
With the theme "Building a Net-Zero Asia – Middle East Corridor," the conference focused on the growing demand for transition finance and the opportunities for collaboration between Dubai and Hong Kong. Discussions centered on the net-zero transition goals for both regions, exploring how joint efforts could bridge the transition finance gap and promote sustainable investments.
A key highlight of the event was the signing of a Memorandum of Understanding (MoU) between the DFSA and the HKMA, aimed at deepening their strategic partnership in sustainable finance. The MoU will enhance cross-border dialogue, information exchange, and joint research, reinforcing efforts to promote climate finance and accelerate the transition to a low-carbon economy.
DFSA Chief Executive Ian Johnston emphasized the importance of partnerships in achieving net-zero targets, stating,
"Today's signing is a testament to our shared ambition with Hong Kong to lead in climate finance."
Echoing this sentiment, HKMA Chief Executive Eddie Yue remarked,
"Hong Kong and Dubai, as sustainable finance hubs, can and should collaborate more. This inaugural conference marks the beginning of our efforts to build a 'Net-zero Asia – Middle East Corridor'."
The two authorities will continue working together to mobilize capital for green and sustainable growth in both regions.
News Source: Emirates News Agency
