The UAE has been assessed to be the leader in the 22-country Arab Region on caring for the environment through sustainable finance practices, specifically on climate change finance, bolstered by regulations or legislation.
This is according to the 140-page “Promoting Sustainable Finance and Climate Finance in the Arab Region” dated January 2021. A copy was emailed to Gulf Today by the United Nations Environment Programme (UNEP)-West Asia Regional Office on Wednesday evening.
The extensive research-analysis was conducted under the auspices of two ongoing UNEP Finance Programme (UNEP-FI) and the 65-year-old League of Arab States which, among its numerous goals, wants to achieve sustainable development in the areas of water scarcity and climate change, taking into consideration the region’s arid topography and the severe challenges arising from increasing populations, high illiteracy rates, and low levels of infrastructure. UNEP FI is a partnership between the UN affiliate and over 450 banks, insurers, investors and supportive institutions, whose aim is to help create a financial sector for the people and for the planet through positive initiatives and advocacies.
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