Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Determined to unite the world in tackling climate change: UAE President

President Sheikh Mohamed bin Zayed Al Nahyan delivered message ahead of today’s opening of UN talks on climate change

UK-based net zero asset manager HYCAP Group expands to UAE

The group also has plans for a UAE-based GCC Fund that will invest in companies serving the net zero energy transition and clean hydrogen supply chain

Deloitte report: Improved financing could save $50trln as the world decarbonizes

Improved financing structures and implementation could help drive down the cost of the transition to net-zero in developing economies by nearly 40%

COP 28: KPMG report reveals global challenges delaying the deployment of renewables

A KPMG survey found that only one-third of respondents have confidence that renewables will surpass fossil fuels as the primary fuel source by 2050

Dubai Financial Market to launch pilot carbon credits programme at COP28

DFM will commence the pilot programme for institutional investors starting from December 4-8, with the offsetting period ending on January 10, 2024

Middle East could play a key role in decarbonising global economy - Wood Mackenzie

COP28 could fast track decision-making and invite foreign investments needed to secure sustainable energy future

Mashreq partners with Visa and ecolytiq

To unveil MENA-first personal banking platform offering carbon emissions insights

3.5MW solar plant financed by Abu Dhabi Fund for Development inaugurated in Somalia

With a production capacity of 3.5 megawatts, the project aims to meet the electricity needs of Bosaso, the commercial capital of the state of Puntland

Nearly 75% of MENA banks have ESG strategies in place: EY

Regional banks need to emphasize on sustainable retail bank products

EY ESG MENA Bank Tracker: Nearly three-quarters of top MENA banks have introduced ESG strategies

Inaugural EY ESG MENA Bank Tracker shows nearly 75% of MENA banks analyzed have introduced ESG strategies into their operations

Oman takes a giant leap in reducing carbon emissions

This pioneering project will boast an annual capacity of over 32,000 megawatt-hours (MWh) of green electricity, fully covering the desalination plant’s energy requirements during daylight hours.

Climate change discussion needs to be led by logic not emotion, Saudi official says

He highlighted various issues tied to cybercrime

Mashreq takes center stage in ESG commitments with Climb2Change initiative

Cementing Its Position as a Sustainability Trailblazer in MENA

COP28 Presidency announces Net-Zero Transition Charter

The charter follows a technical report from the Global Stocktake, which showed that the world is off-track to keeping the goals of the Paris Agreement alive

ESG sukuk rises to $33.3bln; Fitch expects further growth

Growth driven by state-backed sustainability initiatives

Saudi: 80% surge in requests for environmental permits by private sector in Q3

The issuing of environmental permits comes within an integrated plan aimed to achieve eco-friendly economic growth that contributes to improving the quality of life in Saudi cities and towns

131 UAE businesses pledge to go green ahead of COP28

Minister emphasises importance of inspiring change their behaviour and embrace sustainability

UAE attracted $36bln FDI for renewable energy projects in 2022

UAE has successfully enticed a staggering $23 billion last year, up 10% over 2021, to be ranked 16th globally in FDI attraction

Saudi Arabia strengthens commitment to climate action by joining Global CCS Institute

With an ambitious target to achieve net zero by 2060, Saudi Arabia is actively diversifying its portfolio to reduce carbon emissions, with a particular focus on the implementation of CCS

Family businesses a crucial driver of green investments and climate philanthropy

Badr Jafar shared his views on some of the major opportunities and challenges facing many family businesses within the Gulf region

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