Abu Dhabi Global Market (ADGM) and the International Renewable Energy Agency (IRENA) have signed a Memorandum of Understanding (MoU) to reflect their mutual commitment to advancing renewable finance across the UAE and the wider region.
Through the MoU, ADGM and IRENA have strengthened their mutual commitment to promoting solutions which encourage investment in renewable energy. The agreement was signed by ADGM Registration Authority (RA) CEO Dhaher bin Dhaher and IRENA’s Director-General, Francesco La Camera.
“We are proud to have entered into this MoU, alongside IRENA, as we reinforce our shared commitment to promoting sustainable practices across all sectors. ADGM is continuously looking to work with its strategic partners, locally and internationally, to further the UAE’s sustainability initiatives, including the 2030 agenda, and to safeguard the longevity of the UAE’s financial landscape. ADGM has been a leading force in fostering the adoption of sustainable operations as it aims to develop a thriving sustainable finance ecosystem in the UAE and the wider region. Through multiple sustainability initiatives, programmes and agreements, we hope to continuously collaborate with leading entities, such as IRENA, to secure the longevity and well being of the financial community.”Dhaher bin Dhaher Al Mheiri, CEO of the ADGM.
“Increasing investments into renewable energy and the energy transformation is essential to building a more resilient energy system and to more prosperous economies. To achieve sustainable economic and environmental development, partnerships between organisations with shared values is essential. The UAE has demonstrated its strong commitment to this future, and through this cooperation we aim to accelerate low-carbon investment flows building more stable, equitable and climate-safe societies.”Francesco La Camera, director-general of IRENA.
According to the joint agreement between ADGM and IRENA, the two organizations have committed to working together to promote investment in renewable energy, to support the creation of a sustainable financing environment that includes renewable energy, and to support ongoing sustainability initiatives.