UAE Banks Commit $200 Billion to Green Financing at COP28 Talks

Abdul Aziz Al Ghurair, the chairman of the UAE Banks Federation, stated on Monday at the United Nations Climate Change Conference (COP28) that UAE banks have allocated one trillion dirhams, approximately $200 billion, for green financing. This announcement, made on the day dedicated to financing at the conference held in Dubai, adds to a growing list of commitments covering various issues from building renewable energy to helping farmers improve soil quality. Al Ghurair said, "At this pivotal moment, I am honored to announce a historic commitment to achieve the ambitions of the UAE, where the banking services of the UAE Banks Federation and national banks have collectively pledged to allocate more than one trillion dirhams."