Dubai Financial Services Authority launches general consultations on the principles of planning for climate transformation
Dubai, June 18 / WAM / The Dubai Financial Services Authority, in cooperation with other members of the Sustainable Finance Working Group in the UAE, announced today the launch of a public consultation on the draft “principles of planning for climate transformation”.
This new step comes within the framework of the continuous working group efforts to enhance the sustainable financing system in the UAE.
The draft principles aims to enable financial institutions to develop reliable, transparent and effective plans for climate transformation.
These plans establish future strategies aimed at harmonizing the goals of institutions, their governance, and managing their risks and operational processes with their climatic goals.
The draft covers eight main areas, including defining the goals of transformation, governance, integrating the goals of transformation in strategy and risk management, standards and targets, data and customer participation, as well as preparing reports and transparency, implementation, review and updates.
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