The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) hosted the second edition of the Global Financial Regulators Summit. The event, held during Abu Dhabi Finance Week (ADFW) 2023, gathered representatives from the MENA region, the European Union (EU), the United Kingdom (U.K.), Asia, and the United States (U.S.). During the closed session, global financial regulatory leaders engaged in discussions regarding the crucial role regulators play in shaping the future landscape of sustainable finance.
Read more: ADGM’s FSRA enhances its regulatory framework to permit private credit funds
The event aimed to enhance partnerships and foster greater cooperation among regulatory entities in achieving sustainability policy objectives. The discussions focused on facilitating global collaboration in key areas, fostering alignment with international standards, and addressing regulatory gaps across jurisdictions that could potentially harm financial markets and investors. The overarching goal was to promote a more harmonized and responsible approach to sustainability within the regulatory community.
Sessions
During the first session, titled “Addressing the risk of greenwashing and enhancing investor education,” it was emphasized that international cooperation, partnerships, and disclosure are of utmost importance. The session highlighted the need for transparent and credible practices to combat greenwashing and enhance investor awareness.
The second session, “Delivering on sustainable finance & the net zero pledges,” underscored the significance of adopting effective and trustworthy transition plans. It emphasized the importance of aligning financial activities with sustainability goals, particularly in achieving net-zero commitments.
Furthermore, as part of the R.A.C.E Sustainability Summit, a special session was conducted on November 30, 2023. This session provided an overview of the key topics discussed, initial findings, and outlined potential pathways to future agreements. R.A.C.E stands for Regulation, Awareness, Collaboration & Ecosystem.
For more news banking & finance, click here.
