UAE Regulators Point Financial Institutions Towards a More Defined & Robust Responsible Finance Approach

Near-term plans for 2022 will cover a review of disclosure and corporate governance frameworks for compatibility with sustainabilityUnclear timing for the next step of taxonomy development ahead of Common Ground Taxonomy releaseTaken together, these responsible finance developments at the policy & regulatory levels signal work – and opportunity – lies ahead for financial institutions

The UAE Sustainable Finance Working Group has released its Statement on Sustainable Finance, which expands upon the Guiding Principles on Sustainable Finance issued in 2020 with three items where its work continues: disclosures, governance, and taxonomy development.

One of the big changes since the Guiding Principles were released was the announcement of a 2050 Net Zero targ...