DIFC Prepares Financial Services Industry for COP28 with Climate Finance Training Series

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  • DIFC Academy commissions a training programme delivered jointly with the Global Ethical Finance Initiative (GEFI)
  • DIFC Academy addressing issues related to climate change and building a more sustainable future for the economy in association with representatives from Cambridge Judge Business School and University of Edinburgh

Dubai, UAE: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has underlined its commitment to addressing climate change issues by launching an exclusive training programme.

Commissioned by the DIFC Academy, a training and development platform established by the DIFC Authority, and jointly delivered by the Global Ethical Finance Initiative (GEFI), which is committed to delivering positive change to achieve the UN’s Sustainable Development Goals, the ‘Climate Finance Training Series’ is a part of DIFC’s Path to COP28 campaign. Overall, the training series will help financial services practitioners understand the United Nations Framework Convention on Climate Change’s (UNFCCC’s) 28th session of the Conference of Parties (COP28) process, global trends in climate finance and best practice approaches to developing and implementing the net zero strategies.

Curriculum modules include Deconstructing COP28 and the Role of Financial Services; From Global to Local – Navigating Climate Finance Regulations; Initiatives and Frameworks; From Talk to Action – Developing and Implementing Climate Policies; and Targets and COP 28 Preview – Expectations of Finance. Including global case studies, the programme will assist practitioners support the UAE Green Agenda, National Climate Change Plan and UAE Net Zero by 2050 Strategic Initiative.

The first module of the training programme will be delivered on 12 January 2023 and has already attracted more than 300 registrations. Subsequent modules will be delivered in March, June and October 2023.

Academics, including David Pitt-Watson, Fellow at Cambridge Judge Business School, and Dr Ian Cochran, Programme Director – MSc Climate Change Finance & Investment at the University of Edinburgh in the UK, are supporting this customised programme that is available to attend either online or in-person. The programme is also CPD accredited with pathways to official professional certifications.

Speakers also include renowned practitioners Tara Schmidt, Head of Climate Change & Sustainability Strategy at Lloyds Banking Group, and Leah Ramoutar, Head of Climate and Nature Risk at Phoenix Group.

Commenting on the launch of the programme, Alya Al Zarouni, Executive Vice President of Operations at DIFC, said: “The pressure on financial institutions and stakeholders to commit to achieving net zero will only increase. As a result, the financial services sector needs to act fast before COP28. The ‘Climate Finance Training Series’ is an effort to inform the sector about the significance of global trends in climate finance and the best methods for creating and putting into practice the net zero initiatives.”

In October 2022, DIFC and GEFI announced a 12-month partnership ahead of COP28, which is taking place in Dubai. The partnership is aligned with DIFC’s Strategy 2030 and reflects its progress on driving Dubai’s reputation as the region’s leading sustainable financial hub.

Over the years, GEFI has become a thought leader at the centre of the ethical finance movement. It has curated independent conversations among a broad coalition of financial services stakeholders as well as delivered practical projects.

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.

With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of almost 30,000 professionals working across over 4,000 active registered companies – making up the largest and most diverse pool of industry talent in the region.

The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.

About DIFC Academy

For over a decade, the DIFC Academy has catered to the learning needs of the DIFC community by serving as a platform for top-ranked educational institutions to deliver professional development and higher education courses within the DIFC. The Academy promotes educational excellence and human capital development within the DIFC community through partnering with some of the world’s most reputable institutions to offer a variety of programs ranging from short certificate workshops to multi-year graduate degree programmes across the fields of law, finance and management and future skills.