DIFC Unveils Decarbonisation Plan, Aims for Net Zero Emissions by 2045

Post by: Elena Malik

Photo : Dubai Government Media Office

Dubai International Financial Centre (DIFC), a major financial hub in the Middle East, Africa, and South Asia, has announced a big plan to help protect the environment. During the Future Sustainability Forum 2024, DIFC shared its goal to achieve Net Zero emissions by 2045. This means DIFC will work to stop releasing harmful gases into the air, helping to fight climate change.

This plan called the Decarbonisation Strategy, focuses on reducing pollution in areas that DIFC controls, like its offices, building projects, and materials it buys. DIFC promised to achieve its goal in a real way, without using shortcuts like buying carbon credits. By reaching this goal in 2045, DIFC will meet the target five years earlier than the UAE’s Net Zero 2050 goal.

At the forum, DIFC also introduced its first report on its progress toward being sustainable. The report, Building a Sustainable Future: DIFC’s Path to Impact, explains what DIFC has done so far to protect the environment and its plans.

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The Future Sustainability Forum was not just about announcements. It was also a place where people shared new ideas and worked together to solve environmental problems. One of the highlights was the Climate Tech World Cup. This event brought together creative people from all over the world to present ideas to fight climate change. Projects like Baynunah Watergeneration Technologies and Zeroe were among the finalists, showing how technology can help build a cleaner and greener future.

The forum also continued the important work from earlier global climate meetings like COP28 and COP29. These meetings bring countries together to find ways to slow down global warming and keep the Earth’s temperature rise below 1.5°C. The UAE, which hosted COP28 last year, is now working with Brazil, the host of COP30, to speed up progress on these goals.

DIFC’s announcement comes at a time when green finance is growing quickly in the Middle East. In 2023, $24 billion worth of green and sustainable bonds were issued in the region. The UAE led this trend, issuing $10.7 billion in green bonds, almost half of the regional total. DIFC is helping by supporting businesses and projects that focus on sustainability.

During the forum, His Excellency Essa Kazim, Governor of DIFC, said that the Future Sustainability Forum is a place where people can share ideas and work together to protect the planet. “With our Decarbonisation Strategy, we are setting an example for financial centers everywhere. Our goal to reach Net Zero by 2045 shows how serious we are about making Dubai a leader in sustainability,” he said.

The forum brought together 3,000 people, including business leaders, government officials, and experts in the environment. Over 500 global investors and 100 speakers came to discuss ways to reduce pollution, improve green finance, and find creative solutions to help the planet.

DIFC is playing a big role in the UAE’s efforts to protect the environment. By working with other countries and supporting new ideas, DIFC is helping to create a greener and more sustainable future. Its strong goals and leadership set a great example for others around the world.

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