2023-08-30 11:30:07
The total volume of sustainable financing in global capital markets is expected to reach $1.4 trillion by 2028. The annual rate over the period 2022-2028 is therefore expected to be around 19.2%.
This forecast was made by Abdul Rahman Bin Abdullah Al-Hamidy, Managing Director and Chairman of the Board of Directors of the Arab Monetary Fund, on the sidelines of his participation in the opening of the second meeting of the Green Finance Network and sustainability in the Arab world. In this regard, the manager recalled the remarkable growth recorded by the sector for the 2022 financial year, i.e. an outstanding amount of around 391 billion dirhams.
According to the Managing Director of the Arab Monetary Fund, the growth in the volume of sustainable finance is due to four main factors. These include increased awareness of climate change, the need for sustainable investments, government policies, growing demand for sustainable products and services as well as the increased availability of green and sustainable financial products.
As a reminder, the transition to green and sustainable finance is a strategic direction linking the financial sector to the transition to low-carbon and resource-efficient economies. It supports the transfer of capital flows to companies as it encourages investment in green and sustainable projects and the use of technologies that help reduce carbon dioxide emissions.
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