The Dubai International Financial Centre (DIFC) has announced its comprehensive decarbonization strategy, aiming to achieve Net Zero by 2045—five years ahead of the UAE’s 2050 climate targets. This bold commitment was unveiled during the Future Sustainability Forum 2024, which brought together over 3,000 industry leaders, government officials, and sustainability experts.
Essa Kazim, Governor of DIFC, emphasized the importance of collaboration in tackling climate change:
“We remain at the forefront of solidifying Dubai’s position as the leading sustainable financial city in the region,” he said.
No Reliance on Carbon Offsets
DIFC’s plan focuses on real emissions reductions across operations, construction projects, and supply chains, rejecting reliance on carbon offsetting or trading. This sets a new benchmark for sustainability in global financial hubs.
Sustainability Progress Report Launched
Alongside its strategy, DIFC released its first Sustainability Progress Report, Building a Sustainable Future: DIFC’s Path to Impact. The report details achievements and future goals, aligning closely with UAE’s Net Zero 2050 initiative.
Driving Green Innovation and Sustainable Finance
The forum spotlighted global collaboration on sustainability, featuring over 500 investors and the Climate Tech World Cup. DIFC also highlighted its role in the MENA sustainable finance market, with the UAE issuing $10.7 billion in green bonds in 2023, a 170% increase from 2022.
With initiatives like the Sustainable Finance Catalyst, DIFC aims to channel $100 billion in sustainable financial flows by 2030.
