Today's Edition
ABU DHABI (ALETIHAD)
Mubadala and the Climate Governance Initiative have partnered to launch Chapter Zero UAE. The initiative aims to empower board directors to guide management to address climate risks and opportunities, advancing climate governance and supporting the UAE Net Zero 2050 Strategic Initiative.
This is the 33rd Chapter in the Climate Governance Initiative’s global network and was launched in the presence of Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of the UAE Independent Climate Change Accelerators (UICCA) and the Co-Founder of Aurora50, at an event in Abu Dhabi. It will draw on the World Economic Forum’s Principles for Effective Climate Governance, sharing global best practices on managing climate risks to ensure UAE companies are at the forefront of climate leadership.
The members of Chapter Zero UAE will include board members, sustainability consultants and CEOs, will provide them access to tailored training, peer-to-peer learning opportunities, networking events, newsletters, a certified educational programme, and the latest resources to help them integrate climate governance into decision-making processes within their organisations.
Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Chairperson of the Advisory Board of Chapter Zero UAE, said: "The UAE has always been at the forefront of sustainability efforts in the region. From spearheading innovative clean energy solutions to establishing global partnerships for environmental preservation, our leadership has placed sustainability at the heart of our development strategy.”
Sheikha Shamma bint Sultan added, “This dedication is not only a reflection of our values but a responsibility we all share. Chapter Zero UAE will ensure this responsibility is translated to our board rooms, by providing corporate leaders with the tools and insights needed to embed climate governance into decision-making processes and accelerating the achievement of our commitment to net zero by 2050."
Net-zero Future
Julie Baddeley, Chair of the Governing Board of the Climate Governance Initiative, said: “As we look ahead to COP29, board directors have a major role to play in delivering the ideas, ambition and action necessary to drive our transition to a net-zero future. I am delighted to see the launch of Chapter Zero UAE, the 33rd Chapter in the Climate Governance Initiative’s global network and third Chapter in the Middle East and North Africa. Chapter Zero UAE will have the full support of the global network as it equips board directors in the UAE to address climate in their businesses and make a real impact on the climate crisis.”
Ahmed Al Calily, Chief Strategy AND Risk Officer at Mubadala Investment Company, said: “We’re proud to partner in launching Chapter Zero UAE, a critical platform for advancing climate governance."
He added, "At Mubadala, responsible investing is at the core of our mission, and we believe that integrating environmental considerations into investment decisions and stewardship is essential for creating enduring value. Through Chapter Zero UAE, board directors will be empowered to make climate action an integral part of corporate strategy, driving resilience, long-term value, and a sustainable future for the UAE and beyond."
Supporting Climate Governance Initiative
Commenting on the initiative, Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East, said: “HSBC is delighted to be one of the founding donors for Chapter Zero UAE. We have a long history of supporting other Climate Governance Initiative (CGI) chapters worldwide including the UK and more recently Chapter Zero Egypt.
Al Marzooqi added: "Working with clients on their carbon transition journey is a key part of our Net Zero Transition Plan and we believe the oversight and leadership from Boardrooms will be critical for each organisation. This very important initiative gives Board Directors some of the tools they need to help drive change here in the UAE.”
The Chapter’s structure includes an Advisory Board, Steering Committee, Subcommittees, and Members, working in unison to provide guidance and resources for board directors across the UAE. With key partners such as Aurora50, HSBC, Mubadala, UAE University, University of Dubai, and Simmons and Simmons, the initiative aims to lead corporate climate governance efforts in the region.
