In appreciation of DIFC’s call to action for a sustainable future

As the largest ever UN climate summit COP28 hosted by UAE urged every country and every stakeholder to be accountable to keep the 1.5-degree Celsius target within reach, it is acknowledged that this is a big challenge but a doable one. 

In this context, COP 28 president designate His Excellency Dr. Sultan Al Jaber noted that climate finance challenge is a top priority to support the global transition to clean energy. 

Today is Finance Day. 

We are proud to remember that DIFC this year became the first financial centre in the region to announce its green finance framework. 

It is remarkable that other initiatives underway include DIFC’s decarbonization strategy, approach to sustainable procurement and baselining ESG measures for disclosure and governance. 

DIFC COP 28 legacy programme – The sustainable Finance Catalyst- that has the multiple dimensions of achievements like First Global Hub for Sustainable Finance in MENA, One Million leaders trained on Sustainability, USD 100BN sustainable and Islamic finance raised from Dubai. 

At this juncture, we take this opportunity to extend high regards to esteemed Governor of DIFC, His Excellency Essa Kazim for his profound leadership and especially for the introduction of DIFC’s ground breaking COP28 legacy programme which will further demonstrate and cement DIFC’s commitment to remain the region’s champion for Climate change, sustainability and transition finance. 

We would like to reverberate and echo his message ” We have one planet and it is our duty to protect it for generations to come. Reflecting the goals of COP28, we must unite, act and deliver”. 

Indeed, DIFC consistently lead by example and we are proud to have our presence in DIFC’s legal community! 

Share this post on: 

RELATED NEWS

Non-Competes and Employment Contracts

A non-compete clause (or non-competition clause), is a clause in an employment contract that prevents or restricts an employee from any activity that directly competes against his former employer once the employment contract has ended.

Navigating Debt Recovery in the UAE: Insights on Leveraging Commercial Licenses as Attachable Assets

Debt Recovery is a critical aspect of financial transactions, crucial for individuals and businesses alike; hence efficient recovery of unpaid debts is vital for maintaining financial security.  The recent judgment by the General Assembly of the Dubai Court of Cassation in Cassation No. 1 of 2024 issued on 31 January 2024 (the “General Assembly Judgment”), has expanded the options of attachable assets in relation to debt recovery. Before discussing the nuances of this judgment, let us look into the framework of debt recovery in the UAE.

DIFC Announces Consultation for Amendments to DIFC Law on Application of Civil and Commercial Laws in the DIFC

In May 2024, the Dubai International Financial Centre Authority (“DIFCA”) issued a Consultation Paper in relation to certain proposed amendments to DIFC Law No. 3 of 2004 (otherwise known as the “Application Law”). The DIFCA seeks to enact these amendments to the Application Law by way of DIFC Law No. 6 of 2024 (the “Proposed Amendment Law”). The Consultation Paper invites public comment on the Proposed Amendment Law by no later than 1 June 2024, and any comments should be addressed to the DIFCA’s Chief Legal Officer, Mr. Jacques Visser.