BrazilDeloitte commits to Abu Dhabi’s sustainable finance declaration
Deloitte has pledged its support to the Abu Dhabi Sustainable Finance Declaration, upping its commitment to a greener financial services industry in the region.
The Abu Dhabi Sustainable Finance Declaration was launched early 2019 with the aim of establishing a healthy sustainable finance industry that support the UAE in attaining climate objectives and the UN’s sustainable development goals. The Declaration, initiated by Abu Dhabi Global Market (ADGM), was signed by an initial group of 25 public and private sector entities.
Over the past two and a half years the number of signatories has grown to 46, with Deloitte – a global accounting and consulting firm – the latest to join the list of supporters. Mutasem Dajani, CEO of Deloitte Middle East, said: “Corporate responsibility and sustainability are critical pillars in everything we do at Deloitte and we are honoured to become official signatories to the declaration, supporting the committee in achieving its goals.”
As part of the collaboration, Deloitte will collaborate with other participants to create a framework for fostering and integrating green and sustainable investments, and offer its expertise in the field to the forty-five other members, and beyond. “We will provide innovative concepts and ideas to leverage green finance solutions to organisations across the United Arab Emirates,” explained Damian Regan, Deloitte Middle East Assurance Leader for Sustainability.
Welcoming the professional services giant to the public-private community, Mark Cutis, Chief Executive Officer of Abu Dhabi Global Market Authority said: “Key to developing a vibrant sustainable finance hub is fostering cooperation and encouraging dialogue between local and international stakeholders, which includes authorities, commercial entities and leading industry standard bearers. Deloitte as a new signatory reaffirms our collective commitment to a cause whose time has come.”
Deloitte’s commitment comes at a time of growing interest in sustainable finance. With more and more consumers demanding brands to balance their profit objectives with social, environment and human causes, executives are increasingly embedding sustainability principles in their business strategies.
The financial services sector holds a key role in this transition, providing corporates and businesses the funding to make such green investments. Meanwhile, the sector itself – banks, asset managers, pension funds – play a major role in facilitating the shift by ensuring that investments and financial wealth are channelled to assets that support a more climate-neutral, climate-resilient, resource-efficient and fair economy.
Other signatories of the Abu Dhabi Sustainable Finance Declaration include: the Central Bank of the UAE, several Abu Dhabi ministries, Etihad, Mubadala Group, the Abu Dhabi Securities Exchange, and over a dozen banks including First Abu Dhabi Bank, BNP Paribas, Citibank, HSBC, ING Bank, Macquarie, and UniCredit.
