Dubai Financial Services launches consultations on the principles of planning for climate transformation

The Dubai Financial Services Authority, in cooperation with other members of the Sustainable Finance Working Group in the UAE, has announced the launch of a general consultation on the draft “principles of planning for climate transformation”, and this new step comes within the framework of the efforts of the continuous working group to strengthen the sustainable financing system in the UAE, and the draft principles aims to enable financial institutions to develop reliable, transparent and effective plans for climate transformation.

These plans also establish future strategies aimed at harmonizing the goals of institutions, their governance, and managing their risks and operational processes, with their climatic goals, and the draft covers eight main areas that include: defining the goals of transformation, governance, and integrating the goals of transformation in strategy and risk management, standards and targets, data and customer participation, as well as preparing reports Transparency, implementation, review and updates.