The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority (HKMA) have entered into a partnership to explore how to further develop policy and regulatory responses to support and enable climate finance in the Middle East and Asia.
This new partnership aims to bolster cross-border collaboration to advance sustainable finance across the two regions and contribute to the net-zero transition.
The DFSA and the HKMA have collaborated on numerous fronts, including fostering and supporting innovation in their respective markets. In December 2017, the DFSA signed a Cooperation Agreement with the HKMA to collaborate on financial innovation.
Mr. Eddie Yue, Chief Executive of the HKMA, stated that, “Climate change knows no boundaries. It requires joint actions across regions and sectors to tackle. We are excited about this new project with the DFSA, which provides a platform for more regular knowledge sharing and collaboration between the Middle East and Asia on the important subject of sustainable finance.”
According to the statement, “The joint effort between the DFSA and the HKMA stands as a beacon of commitment to sustainable finance, poised to make a lasting impact on the financial landscape of the Middle East and Asia. Together, both regulatory bodies forge ahead, championing a future marked by responsible financial practices and a global transition to a net-zero economy.”