Today's Edition
ABU DHABI (WAM)
Under the patronage of His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, and Chairman of the Board of Directors of the Central Bank of the UAE (CBUAE), the 2nd Climate Forum 2026, organised by the CBUAE, commenced today in Abu Dhabi and runs from October 8 to 9 2026.
Hosting the Forum for the second consecutive year underscores the commitment of the CBUAE and the UAE to strengthening the role of the financial sector in supporting sustainability efforts and climate action at both the regional and international levels.
The Forum brings together leading policymakers, central bank officials and financial sector leaders, alongside international experts in climate, finance and financial stability, to discuss the implications of climate change for financial stability and monetary policy, and the role of sustainable finance in the transition to a low-carbon, climate-resilient economy.
The Forum is a key annual platform within the CBUAE’s ongoing efforts to embed sustainability principles in its operations and policies, following the recent incorporation of supporting sustainability into its mandate.
It also contributes to achieving the targets of the UAE Net Zero by 2050 Strategy and to reinforcing the country’s position as a global hub for green and sustainable finance.
Khaled Mohamed Balama, Governor of the CBUAE, opened the Forum in the presence of Khalid Ibrahim Humaidan, Governor of the Central Bank of Bahrain, and AbdulAziz Abdulla Al Ghurair, Chairman of the UAE Banks Federation, along with a number of senior officials and representatives of international financial institutions.
In his opening address, His Excellency Khaled Mohamed Balama affirmed that the CBUAE is steadily translating the vision of the wise leadership into practical initiatives with tangible impact, enhancing the sustainability of the national economy and the financial sector’s ability to meet future challenges.
Balama noted that climate change is an economic and strategic priority, outlining key initiatives in this area, including preparations for a climate risk stress test, the increasing share of foreign reserves managed under sustainability principles, the implementation of the Climate-related Financial Risk Management Regulation and the integration of environmental considerations into monetary policy operations through Sustainable sukuk, which enable banks to refinance over $100 billion of sustainable assets.
His Excellency Balama explained that the CBUAE’s holdings of sustainable bonds represent, on average, 5% of its foreign reserves, which stood at $257 billion at the end of September, and stressed the importance of strengthening public-private partnerships and international cooperation.
He also highlighted the CBUAE’s participation in the Network for Greening the Financial System (NGFS), which comprises more than 140 central banks and financial supervisors, and its co-chairmanship of the NGFS Workstream on Central Bank Operations, making it the first central bank in the MENA region to hold this role.
The Forum discussed the evolving relationship between climate change, financial stability and monetary policy, including the implications of changing inflation dynamics and the potential for climate-related risks to remain insufficiently priced.
Panel discussions also addressed the role of sustainable finance in mobilising capital to support the net-zero transition, including emerging opportunities in areas such as the blue economy and innovation in green financial products.
The Forum also highlighted digitalisation and financial innovation as key enablers of sustainable finance. Participants discussed the role of technology in making sustainable finance solutions more accessible and scalable, as well as the potential role of digital public and private money in supporting more efficient and sustainable payment and settlement systems, in line with efforts to build an advanced financial infrastructure capable of keeping pace with the requirements of the green economy.
Khalid Ibrahim Humaidan, Governor of the Central Bank of Bahrain, said: “Climate-related risks are increasingly relevant to financial stability and require central banks and financial institutions to strengthen their understanding and management of these risks.
Regional cooperation and knowledge-sharing are essential to building more resilient financial systems and advancing practical approaches to integrating climate considerations into financial and monetary policy. This Forum represents an important platform for deepening this cooperation across the region.”
AbdulAziz Abdulla Al Ghurair, Chairman of the UAE Banks Federation (UBF), said: “The UAE banking sector has a vital role to play in advancing the country’s sustainability ambitions and delivering real economic impact by mobilising capital and supporting businesses through the transition.
UBF remains committed to advancing innovative sustainable finance solutions and strengthening collaboration across the financial ecosystem to build a more resilient and sustainable economy.”
Delivering the closing remarks for the first day, Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the CBUAE, said: “The Forum’s insights have clearly reinforced the notion that economic resilience and sustainability go hand in hand.
As we move from ambition to implementation, deepening the integration of climate priorities into financial policy will be critical to mobilising capital, unlocking green economic opportunities and building a more resilient economy.
The discussions on sustainable finance, monetary policy, digitalisation and data-driven climate stress testing underscore the importance of the CBUAE’s ‘People, Policies, Processes’ framework in supporting the UAE Net Zero by 2050 Strategy, and reinforce the Forum’s role as an annual platform for coordinating efforts among all relevant stakeholders.”
Following the Forum, the CBUAE is hosting the inaugural Climate Research Seminar on October 9, in collaboration with the Centre for Economic Transition Expertise (CETEx) of the London School of Economics and Political Science (LSE).
The Seminar will bring together researchers, policymakers and financial sector experts to examine recent developments in climate risk modelling, sustainable and responsible investment, and practical approaches to policy challenges associated with the net-zero transition.
The Seminar is a natural extension of the Forum’s proceedings and a further step in strengthening the CBUAE’s position as a leading platform for enriching knowledge and exchanging expertise on climate and sustainable finance.
