ABU DHABI: The Arab Monetary Fund (AMF) kicked off the third meeting of the Arab Green and Sustainable Finance Network (AgreFin) today at its headquarters in Abu Dhabi.

The two-day meeting aims to bolster green and sustainable financing practices across the Arab world.

The primary objectives of the meeting include advancing green financing practices, aiding member countries in aligning with global advancements in sustainable finance, and bolstering the financial sector’s role in managing climate change-related risks.

Key stakeholders from central banks, Arab monetary institutions, ministries of finance, and financial market authorities from Arab nations are participating alongside experts and speakers from regional and international partner institutions.

The Network fosters peer-to-peer learning, knowledge sharing, and collaboration on sustainable finance, enabling Arab countries to stay current with the evolving landscape of sustainable financial activities and services.

The ultimate objective of the Ne
twork is to strengthen the financial system’s role in managing climate change risks, mobilizing finance for green, low-carbon investments, and supporting the circular carbon economy to improve energy security within the context of the SDGs, as well as puts together the positions of Arab countries in international initiatives relating to climate change and energy security.

The first day delves into sustainable finance trends and financing the transition to a low-carbon economy, addressing opportunities and challenges in this space. The second day’s discussions will cover financial roles in biodiversity conservation, the influence of modern technologies on sustainable financing, and the impact of voluntary carbon markets on achieving carbon neutrality goals. The meeting concludes with a roundtable for knowledge exchange and discussions on the agenda for the next meeting.

Dr. Fahad M. Alturki, Director-General Chairman of the AMF’s Board of Executive Directors, commended the Network’s establishment, highlighti
ng its role in facilitating knowledge transfer and experience sharing among Arab countries. He reiterated the growing interest in green and sustainable financing across the region, reflecting a significant shift towards environmentally responsible financial practices.

Source: Emirates News Agency