Dubai International Financial Centre (DIFC), a major financial hub in the Middle East, Africa, and South Asia (MEASA), revealed its Decarbonisation Strategy during the 2nd Future Sustainability Forum. This initiative aligns with the UAE’s Net Zero 2050 goals, with DIFC aiming to achieve its own Net Zero target by 2045.
The strategy focuses on cutting emissions from DIFC’s operations, construction, and supply chain, setting a strong example for financial centres globally. DIFC emphasizes achieving real Net Zero without relying on carbon offsetting or trading.
At the event, DIFC also launched its first Sustainability Progress Report titled Building a Sustainable Future: DIFC’s Path to Impact, which outlines its achievements and future plans for sustainability.
Climate Tech World Cup and COP29 Highlights
The forum also featured the Climate Tech World Cup, organized by Trescon and powered by Ignyte, which invited global innovators and entrepreneurs to present solutions to environmental challenges. Finalists included Acklo, Baynunah Watergeneration Technologies, Green Worms, Mahawa, The Surpluss, Sirius Energy, and Zeroe.
DIFC’s announcement coincided with COP29 outcomes, which marked progress in the collaborative effort between the UAE (host of COP28) and Brazil (set to host COP30 in 2025). This partnership aims to accelerate the 1.5°C climate goal.
Essa Kazim, Governor of DIFC, shared:
“In light of COP29 outcomes, we are proud to announce DIFC’s Decarbonisation Strategy, setting new benchmarks for environmental leadership. Our goal to achieve Net Zero by 2045 reinforces Dubai’s position as a sustainable financial hub and sets an example for global financial centres.”
Green Bond Growth and DIFC’s Role
Green and sustainability-linked bonds in the Middle East and North Africa reached $24 billion in 2023, with the UAE contributing $10.7 billion, a 170% increase. The UAE’s leadership in green finance supports its role in driving climate-focused initiatives and advancing global cooperation in sustainability.
DIFC is strengthening its position as a hub for sustainable finance and innovation, building on discussions from COP28 and progressing through COP29. The Sustainable Finance Catalyst, launched during COP28, aims to boost sustainable financial flows from Dubai to $100 billion by 2030, leveraging an AI-driven sustainability knowledge hub.
With these initiatives, DIFC is shaping a sustainable future for financial centres worldwide, setting ambitious goals and contributing to the global climate agenda.
