Finance / WORLD

UAE central bank convenes second climate forum on financial risks

The 8–9 October Abu Dhabi forum examined climate change implications for financial stability and monetary policy.

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The Central Bank of the UAE opened its second Climate Forum in Abu Dhabi on October 8, with a programme announced for October 8–9. Policymakers, financial institutions and international experts discussed climate risks, financial stability, monetary policy and sustainable finance.

The governor highlighted preparations for a climate-risk stress test, sustainability principles for reserve management and climate-related financial-risk regulation. He said sustainable sukuk enable banks to refinance more than US$100 billion of sustainable assets; this describes refinancing potential, not completed lending. The October 8 report also announced a first Climate Research Seminar with LSE CETEx scheduled for October 9.

Data

Table

Sustainable assets refinancable through sustainable sukuk

Source-stated capacity indicator.

Assets banks can refinance through sustainable sukuk (USD)100000000000
Methodology

The CBUAE governor described capacity above US$100 billion; this is not completed financing and the value is a lower bound.

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