The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority (HKMA) signed a Memorandum of Understanding (MoU) to further deepen their strategic partnership on sustainable finance.
Through this partnership, signed at their inaugural Joint Climate Finance Conference ended on Monday, both authorities will engage in enhanced cross-border dialogue, deepen the exchange of information on recent trends, and conduct joint research and events to further drive progress in this crucial area.
“As we strive to achieve net-zero targets, it is crucial to establish strong partnerships that allow for the exchange of expertise, regulatory alignment, and the promotion of sustainable investment opportunities,” Ian Johnston, Chief Executive of the DFSA, said.
He said the signing of this MoU with the HKMA represents a pivotal step in reinforcing the cooperation between Dubai and Hong Kong in climate finance.
Eddie Yue, Chief Executive of the HKMA, said climate change is a global challenge that requires a collaborative response.
“Hong Kong and Dubai, as the sustainable finance hubs in Asia and the Middle East, and the key gateways between East and West, can and should do more together,” he said.
Yue said the inaugural conference is their first effort to build a ‘Net-zero Asia – Middle East Corridor’.
The HKMA and the DFSA will continue working closely to promote sustainable finance, including transition finance.
The enhanced partnership will also support both regions in exploring opportunities to mobilise capital to support the green and sustainable growth of the wider economies.
The hybrid conference, which took place in Hong Kong, brought together more than 240 participants from financial institutions, industry associations, and international organisations across both regions.
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