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Dubai, UAE – March 06, 2024: The Dubai Future District Fund (DFDF), established by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of the Dubai International Financial Centre (DIFC), and co-anchored by Dubai International Financial Centre and Dubai Future Foundation (DFF), today held its Annual General Meeting (AGM) on 2023 performance at the Museum of the Future in Dubai, uniting efforts between public and private sectors to amplify the UAE’s innovation ecosystem through strategic venture investments.

The DFDF AGM serves as a cornerstone for reviewing the Fund’s remarkable progress in its second year of operation, and attracted distinguished attendees, including government officials, investors, and top executives from leading national corporations, including His Excellency Abdullah bin Touq Al Marri, UAE Minister of Economy; His Excellency Omar Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; His Excellency Essa Kazim, Governor of DIFC and Member of the DFDF Oversight Committee; His Excellency Khalfan Belhoul, Chairman of the DFDF Board and CEO of DFF; Arif Amiri, Chief Executive Officer of DIFC and member of the DFDF Board; and Sharif El-Badawi, CEO of DFDF.

The AGM included keynotes from high-profile attendees and panel discussions with entrepreneurs, investors, and thought leaders, covering collaborative initiatives driving innovation, adopting new technologies, further delving into the Fund’s forward-looking strategies.

In his keynote speech on “Sustainability in Finance and Climate”, His Excellency Abdullah bin Touq Al Marri, UAE Minister of Economy, said: “In pursuit of its strategic goal, the UAE, under the directives of its wise leadership, aims to double the national economy’s gross domestic product over the next decade. The Ministry of Economy, alongside its partners, is dedicated to achieving this objective, focusing on sectors such as the circular economy, sustainability, and entrepreneurship. In these sectors, the UAE has crafted a sustainable economic strategy grounded in foundational pillars such as research and development, innovation, and technology.”

His Excellency added: “The UAE is focused on activating opportunities within the circular economy, clean energy, smart transportation, sustainable aviation, and agricultural technology sectors with the aim of transitioning towards a diversified, knowledge-based economy. The UAE offers a number of incentives and initiatives to support small and medium-sized companies and venture capitalists in the green economy sectors. In addition, it supports strengthening partnerships and enhancing the private sector’s competitiveness to foster innovation.”

In his remarks, His Excellency also commended DFDF for its critical role in unlocking high-quality economic opportunities, driving the creation of a diverse and sustainable economy. He highlighted how these efforts boost the nation’s competitiveness and encourage ongoing innovation and substantial investments across various sectors.

The ambitious ‘We the UAE 2031’ strategy aims to double the UAE’s GDP to AED 3 trillion by 2031, focusing on social, economic, investment and development aspects to enhance its global economic influence and attractiveness. It presents a unified strategy for government and private sector collaboration to foster development, support leading companies, and encourage new ventures, all while integrating sustainability across all economic activities.

During the meeting, DFDF outlined its significant contributions to enhancing Dubai’s venture capital landscape. With an initial allocation of AED 1 billion, the Fund has been instrumental in energising the local venture ecosystem. It has made strategic investments across 14 start-ups and funds, comprising 5 new start-ups, 3 follow-on investments, and 6 fund commitments. In total, DFDF has supported over 25 projects, leading to a substantial broadening of its investment portfolio and achieving an impressive 84 per cent increase in talent within these ventures.

DFDF also allocated 20 per cent of its AED 1 billion fund to help accelerate sustainable technology and innovation start-ups and scale-ups. The progress further underscores the Fund’s commitment to the UAE’s sustainability objectives and the ambitious ‘We the UAE 2031’ strategy to escalate the nation’s GDP to AED 3 trillion by 2031.

The AGM further underscores DFDF’s vital role in cementing the UAE’s reputation as a global economic leader and a thriving landscape for innovative tech start-ups. By prioritising advanced technologies such as AI, robotics, and blockchain, DFDF is crafting a foundation for a sustainable, diversified global economy.

His Excellency Khalfan Belhoul, Chairman of the DFDF Board and CEO of DFF underscored Dubai’s enduring commitment as a global hub for future technologies and novel economic ventures. He hailed DFDF as a key player in connecting innovative thinkers with financial backers, thereby acting as a dynamic engine for new economic opportunities in Dubai by supporting entrepreneurs and their visionary projects.

During his welcome remarks, Arif Amiri, Chief Executive Officer of DIFC and member of the DFDF Board emphasised Dubai’s appeal to regional and international companies, attributing this to its dynamic, supportive business environment and future-forward infrastructure. He noted that initiatives like DFDF are instrumental in nurturing companies focused on future economies and technology, positioning Dubai as a nurturing ground for ambitious projects by attracting significant investments and top talent.

Mr. Amiri said: “As DIFC continues to drive forward Dubai’s position as a leading global hub for finance and innovation, collaboration with growth enablers such as the DFDF are alpha and omega to provide access to funding, world-class platforms for ideation, incubation, acceleration, and by attracting the brightest minds to future-proof the sector. This approach ensures the creation of a vibrant ecosystem that supports socio-economic impact and aligns with the long-term vision of our leadership.”

Sharif El-Badawi, CEO of DFDF, highlighted the Fund’s pivotal role in establishing the Middle East’s leading region for the new economy industry. By offering financial support and business opportunities, DFDF aids emerging companies in their journey towards listing on Dubai’s financial markets. This, in turn, boosts investor confidence and cements Dubai’s status as a premier location for the development and expansion of innovative projects on a local, regional, and global scale. “This year’s AGM was a testament to our ongoing commitment to sustainable financial growth and to making a tangible impact on the environment and society”, Mr. El-Badawi said.

In the “Creating a Sustainable Ecosystem for Tech Startups in Dubai” panel session, moderated by Nader Albastaki, Managing Director of DFDF, Jeff Harbach, DFDF IC member and CEO of Kauffman Fellows; Huda Al Lawti, Founder and CEO of Aliph Capital; and Mahmoud Adi, Founding Partner at Shorooq Partners, explored the crucial aspects of fostering a supportive environment for technology companies emerging in Dubai, aiming for regional and global expansion.

During a panel session titled “Flamini’s Green Revolution: Championing Sustainability, Innovation, and Legacy”, former Arsenal player and GF Biochemicals Co-founder Mathieu Flamini shared his transition from sports to advocating for a green economy, emphasising the role of wealthy investors in promoting sustainable development paths worldwide.

DFDF continues to champion innovative technology startups, driving them towards additional funding and nurturing a flourishing venture ecosystem. With a strategic focus on emerging technologies, DFDF is poised to play a pivotal role in shaping future economies and reinforcing Dubai’s position as a leading hub for promising projects both locally and internationally.

Dubai, February 8, 2024: The Oversight Committee of Dubai Future District Fund (DFDF) met to assess the Fund’s significant achievements to date and outline future strategies aimed at enhancing the entrepreneurial ecosystem in Dubai and the broader UAE.

The Oversight Committee reviewed DFDF’s completion of over 25 investments since its inception in 2022 and discussed the AED 1 billion fund’s mission to enhance Dubai’s venture capital ecosystem by driving sustainable finance and innovation on a global scale.

Launched by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and President of Dubai International Financial Centre (DIFC), DFDF is a collaborative effort between the DIFC and the Dubai Future Foundation (DFF).

The meeting saw the participation of His Excellency Essa Kazim, Governor of DIFC; His Excellency Khalfan Belhoul, Chairman of the Dubai Future District Fund’s Board of Directors and CEO of the Dubai Future Foundation; Arif Amiri, CEO of the Dubai International Financial Center Authority and board member of the Dubai Future District Fund; Jacques Visser, Chief Legal Officer at the DIFC Authority; and Sharif El-Badawi, CEO of the Dubai Future District Fund.

DFDF further reinforced its commitment to sustainability and climate technology by earmarking up to 20 percent of its AED 1 billion fund for supporting climate technology and innovation in December 2023, a move that was welcomed by the Oversight Committee and aligned with the Dubai Clean Energy Strategy 2050 and the UAE Net Zero 2050 strategy.

As DFDF embarks on its third year of operations, the Oversight Committee acknowledged the fund’s key achievements of the past year, including 14 new investments in five startups and three follow-on investments as well as six fund investments that are innovating in the Future of Finance and Future Economies sectors in Dubai.

The Oversight Committee also hailed the fund’s capacity building efforts of the inaugural DFDF Venture Fellows programme, where 12 aspiring Emirati professionals and entrepreneurs participated in the Venture Capital Fund Simulation programme which drew 40 participants from the UAE venture capital ecosystem.

The Committee emphasised the importance of supporting startups in their growth journey to become successful, internationally active scale-ups and underscored the role of venture capital investment in supporting startups, not only through funding but also by creating value in the portfolio companies, scaling operations, and strengthening corporate governance.

The meeting also highlighted the collaborative efforts of government and private sector leaders to drive innovation, support startups, contributing to the UAE’s transition to a sustainable future. DFDF remains a key player in this journey, actively shaping the landscape of innovation and investment in the region.

His Excellency Essa Kazim, Governor of DIFC, commented: “DFDF’s growth journey is encouraging and epitomises the vision for Dubai’s venture capital landscape by pioneering sustainable finance, catalysing global innovation, and aligning with strategic missions such as the Dubai Clean Energy Strategy 2050 and UAE Net Zero 2050. The Oversight Committee’s recognition of DFDF’s role in fostering scale-ups and the collaborative drive toward a sustainable future underscores the pivotal partnership between public and private sectors in shaping Dubai’s innovation trajectory.”

His Excellency Khalfan Belhoul, CEO of the Dubai Future Foundation and Chairman of DFDF, confirmed that DFDF contributed significantly during the previous period to strengthening the entrepreneurship scene in the city of Dubai in fulfillment of the leadership’s vision that Dubai is the best destination for emerging companies and entrepreneurs and the ideal incubator for business expansion in the region and the world starting from Dubai.

He added: “During the coming period, the Fund will focus on continuing its efforts to provide an integrated system to support emerging companies and provide financing, expertise, guidance, and other support programmes such as business accelerators and capacity building initiatives, in a way that contributes to enhancing their ability to grow and benefit from the business-friendly environment that stimulates innovation.”

Arif Amiri, Chief Executive Officer, DIFC Authority and Board Member of DFDF, said: “DFDF stands as a beacon in Dubai’s venture capital landscape, co-anchored by Dubai International Finance Centre. The fund’s commitment to climate technology, coupled with a strong investment strategy, has propelled over 25 ventures and continues to nurture international and Emirati talent through its bespoke venture-building programmes. This steadfast dedication marks DFDF as a driving force in shaping the future of sustainable innovation, talent and growth.”

Sharif El-Badawi, Chief Executive Officer, Dubai Future District Fund, said: “In 2023, DFDF championed the fusion of sustainable finance with global innovation, proudly contributing to Dubai’s emergence as a venture capital powerhouse. Our collaborations with DIFC and Dubai Future Foundation have been pivotal, aligning with the Dubai Clean Energy Strategy 2050 and UAE Net Zero 2050 to propel over 25 ventures and cultivate a diverse talent pool. As we advance, our commitment deepens to nurturing startups and driving sustainable growth, ensuring DFDF’s role in shaping a vibrant, innovation-driven future for Dubai. With steadfast dedication, we look forward to a year of transformative impact, reinforcing our promise to foster a sustainable and prosperous tomorrow.”

UAE startups account for an impressive 52 percent of all venture deals in the MENA region, with 44 percent of all venture capital having a presence in the UAE.

دبي – 12 ديسمبر 2023 – أعلن صندوق حي دبي للمستقبل تخصيص ما يصل إلى 20%، أو ما يعادل 200 مليون درهم، من إجمالي حجم الصندوق البالغ قيمة مليار درهم لدعم تكنولوجيا المناخ والابتكار، وذلك بالتزامن مع فعاليات يوم التمويل في مؤتمر الأطراف في اتفاقية الأمم المتحدة الإطارية بشأن تغير المناخ (COP28)،  الذي تستضيفه دولة الإمارات العربية المتحدة في مدينة إكسبو في دبي في الفترة من 30 نوفمبر حتى 12 ديسمبر 2023، والتزاماً من الصندوق بدور محوري في بناء مستقبل مستدام وتعزيز الابتكار فيه، بما يتماشى مع الرؤية الاستراتيجية الشاملة لدولة الإمارات للتنويع الاقتصادي والتنمية المستدامة.

وقد أطلق سمو الشيخ مكتوم بن محمد بن راشد آل مكتوم، النائب الأول لحاكم دبي، نائب رئيس مجلس الوزراء وزير المالية، صندوق حي دبي  بدعم مشترك من مركز دبي المالي العالمي ومؤسسة دبي للمستقبل. ويؤكد هذا الإعلان رسالة الصندوق المتمثلة في تعزيز منظومة رأس المال الاستثماري في دبي ودعم التمويل المستدام والابتكار على نطاق عالمي.

وبهذه المناسبة، قال سعادة خلفان بلهول، رئيس مجلس إدارة صندوق حي دبي للمستقبل والرئيس التنفيذي لمؤسسة دبي للمستقبل: “تخصيص ما يصل إلى 200 مليون درهم من صندوق حي دبي للمستقبل لمشاريع التكنولوجيا المستدامة هو أكثر من مجرد التزام مالي؛ بل دليل على مواصلة وتوسيع رسالتنا المتمثلة في تعزيز منظومة رأس المال الاستثماري ا لجريء في دبي لتشمل الاستدامة. وتركز عمليات صندوق حي دبي للمستقبل على مستقبل التمويل واقتصادات المستقبل، وهي مجالات نؤمن بأهميتها في تسريع الأجندة العالمية للاستدامة والابتكار.”

وأضاف بلهول: “يتماشى هذا النهج الواضح مع الرؤية الشاملة لصاحب السمو الشيخ محمد بن راشد آل مكتوم، نائب رئيس الدولة رئيس مجلس الوزراء حاكم دبي “رعاه الله“، ورؤية دولة الإمارات للتنويع الاقتصادي والتنمية المستدامة. ولتعاوننا مع مركز دبي المالي العالمي دور أساسي في هذا السياق، حيث يمكننا تحقيق أقصى استفادة من الموارد والخبرات والشراكات لتحفيز النمو في هذه المجالات المحورية. ونلتزم معاً بتأسيس منظومة ناجحة يزدهر فيها الابتكار ويصبح التمويل المستدام حجر الزاوية في اقتصادنا“.

بدوره، قال عارف أميري، الرئيس التنفيذي لسلطة مركز دبي المالي العالمي وعضو مجلس إدارة صندوق حي دبي للمستقبل: “بينما نواصل مسيرتنا نحو مشهد مالي أكثر استدامة، يواصل مركز دبي المالي العالمي التزامه بتسهيل تمويلات أكثر استدامة. ويمثل تخصيص ما يصل إلى 20% من صندوق حي دبي للمستقبل البالغة قيمته مليار درهم إماراتي حرصنا على تحفيز النمو ودعم مشاريع التكنولوجيا والابتكار التي تركز على الاستدامة.”

وأوضح أن: “تعاوننا مع مؤسسة دبي للمستقبل كشريكين مؤسسين يجسد حرصنا المشترك على تعزيز مستقبل التمويل والابتكار. وهذه المبادرة هي جزء من استراتيجيتنا لعام 2030، التي تؤكد على تمكين شركات التكنولوجيا الرائدة التي توفر حلولاً مبتكرة تهدف إلى مواجهة التحديات العالمية الملحة“.

ويؤكد قرار تخصيص جزء كبير من تمويل الصندوق لمشاريع التكنولوجيا المستدامة على التزامه الثابت بدعم مستقبل التمويل والاقتصاد في مناطق الشرق الأوسط وأفريقيا وجنوب آسيا ودول الجنوب بشكل عام. ويلعب هذا الالتزام دوراً محورياً في تعزيز المنظومة العالمية للاستدامة والابتكار، لا سيما في سياق التحولات النوعية في هذا المجال في منطقة الشرق الأوسط. كما يهدف صندوق حي دبي للمستقبل إلى العمل مع شركاء متعددي الجنسيات ومؤسسات ووكالات حكومية لتوجيه رأس المال نحو مبادرات تكنولوجيا المناخ الاستراتيجية، بما في ذلك أنشطة تطوير سوق رأس المال الاستثماري.

وفي عام 2021، اتخذت دولة الإمارات خطوة رائدة لتصبح أول دولة في الشرق الأوسط تتعهد باقتصاد محايد مناخياً بحلول عام 2050. وتلتها المملكة العربية السعودية ومملكة البحرين، مما يمثل محطة مهمة لاستثمارات تكنولوجيا المناخ في المنطقة. علماً بأن تحقيق الحياد المناخي يجعل منطقة الشرق الأوسط وشمال أفريقيا من بين المناطق الأكثر استفادة على مستوى العالم، حيث يقلل ما يزيد عن 17% من خسائر الناتج المحلي الإجمالي ويولد أكثر من مليون فرصة عمل. وتتمتع دول مجلس التعاون الخليجي بميزة تنافسية كبيرة في إنتاج الطاقة النظيفة بالاعتماد على الطاقة الشمسية والهيدروجين الأخضر، وذلك بفضل إنتاجها المرتفع من الطاقة الشمسية مقارنة بالمستوى العالمي.

وتشمل هذه الخطوة الاستراتيجية لصندوق حي دبي للمستقبل في مجال تكنولوجيا المناخ قطاعات محورية مثل تكنولوجيا الأغذية والزراعة، ومواد البناء، والتكنولوجيا اللوجستية. كما يأتي هذا التوسع بعد تعاون صندوق حي دبي للمستقبل مع مؤسسة دبي للمستقبل في تقرير “مستقبل الغذاء“، ويؤكد التزامهما الثابت بالبحث والتطوير في مجال الاستدامة.

من جانبه، قال شريف البدوي، الرئيس التنفيذي لصندوق حي دبي للمستقبل: “يخصص الصندوق بشكل استراتيجي جزءاً مهماً من تمويلاته لمشاريع تكنولوجيا المناخ، مما يؤكد التزامنا الثابت بدعم الاستثمارات المناخية ويعزز تركيزنا على مستقبل الغذاء ومستقبل الخدمات اللوجستية والشمول المالي. كما يمتد تعهدنا إلى ما هو أبعد من مجرد الاستثمارات المالية؛ ويرمز إلى التزامنا الراسخ بإعادة تشكيل مشهد رأس المال الاستثماري في دبي. ونهدف من خلال تركيز الموارد وتضافر الجهود والخبرات إلى تعزيز تأثيرنا الجماعي، وتحفيز النمو، وإرساء منظومة ناجحة للابتكار والتمويل المستدام.”

ومع استضافة دولة الإمارات لمؤتمر الأطراف الثامن والعشرين (COP28)، يتعاون كل من صندوق حي دبي للمستقبل ومؤسسة دبي للمستقبل ومركز دبي المالي العالمي لتعزيز التزامهم بدعم التمويل المستدام والابتكار. ويتمثل الهدف الأساسي في وضع معيار عالمي للمبادرات المستقبلية في هذا المجال، بما يتماشى مع الإمكانات المزدهرة للمنطقة في مجال تكنولوجيا المناخ، ويضعها في موقع الصدارة في تشكيل مستقبل الاقتصادات المستدامة والتجارة العالمية.

نبذة عن صندوق حي دبي للمستقبل

يهدف صندوق حي دبي للمستقبل، الذي أنشأه سمو الشيخ مكتوم بن محمد بن راشد آل مكتوم، نائب حاكم دبي نائب رئيس مجلس الوزراء وزير المالية، إلى تعزيز مشهد رأس المال الاستثماري الجريء. ويقع المقر الرئيسي للصندوق في دولة الإمارات حيث يدير عملياته من مركز دبي المالي العالمي، ويركز على تمكين الشركات الناشئة في مجال التكنولوجيا من خلال استثمارات  في صندوق الصناديق والتمويل المباشر للشركات الناشئة، ويعد مركز دبي المالي العالمي ومؤسسة دبي للمستقبل المساهمين المؤسسين فيه .

Dubai, UAE – 04 December 2023 – The Dubai Future District Fund (DFDF) has reinforced its commitment to sustainability by earmarking up to a substantial 20 percent, equivalent to AED 200 million, of its AED 1 billion fund for supporting climate technology and innovation. This momentous announcement, made on COP28’s Finance Day, underscores DFDF’s pivotal role in fostering a sustainable and innovative future, aligning with the United Arab Emirates’ broader vision for economic diversification and sustainable development.

Launched by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, DFDF is a collaborative effort between the Dubai International Financial Centre (DIFC) and the Dubai Future Foundation (DFF). This commitment reiterates DFDF’s mission, enhancing Dubai’s venture capital ecosystem and reinforcing its dedication to driving sustainable finance and innovation on a global scale.

Khalfan Belhoul, Chairman of DFDF and CEO of Dubai Future Foundation, emphasised:

“The substantial allocation of up to AED 200 million from DFDF to sustainable technology ventures represents more than a monetary commitment; it signifies our continued mission to enhance Dubai’s venture capital ecosystem. At the heart of DFDF’s operations is a deep focus on the Future of Finance and Future Economies; areas we believe are critical in driving forward the global agenda for sustainability and innovation.

“This approach is in clear alignment with the UAE’s broader vision for economic diversification and sustainable development, a vision supported by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. Our collaboration with DIFC is instrumental in this context, enabling us to pool resources, expertise, and networks to catalyze growth in these pivotal areas. Together, we are committed to creating a thriving ecosystem where innovation flourishes, and sustainable finance becomes the cornerstone of our economic framework.”

Arif Amiri, CEO of DIFC Authority and Board Member of DFDF, stated:

“As we progress towards a more sustainable financial landscape, DIFC remains committed to fostering access to more sustainable funding. The allocation of up to 20 percent of the AED 1 billion Dubai Future District Fund represents our dedication to driving growth and supporting sustainability-focused tech and innovation ventures.

“Collaborating with the Dubai Future Foundation as founding partners exemplifies our unified pursuit of shaping the future of finance and innovation. This initiative is a testament to our Strategy 2030, emphasizing the empowerment of leading tech firms with innovative solutions aimed at addressing pressing global challenges.”

The decision to earmark a significant portion of the fund for sustainable technology ventures underscores DFDF’s steadfast commitment to shaping the future of finance and economies across the Middle East, Africa and South Asia regions of the Global South. This dedication plays a pivotal role in advancing the global agenda for sustainability and innovation, particularly in the context of the momentous developments in the Middle East. DFDF aims to work with multinational partners, foundations and government agencies to galvanize capital towards strategic Climate Tech initiatives, including venture capital and market development activities. 

In 2021, the UAE took a groundbreaking step by becoming the first country in the Middle East to pledge a net zero economy by 2050. Following suit, Saudi Arabia and Bahrain swiftly joined in, marking an exciting inflection point for Climate Tech investments in the region. Achieving a net zero economy positions the MENA region among the most globally benefited, mitigating over 17% of GDP losses and generating over 1 million jobs.

As emphasised by the International Renewable Energy Agency (IRENA), the region’s current electrification rate stands at 16%, with cautionary warnings that the established targets only fulfil 50% of the renewable energy capacity needed by 2030 to stay below the 1.5°C degree benchmark. However, the GCC countries boast a significantly competitive edge in producing solar-based electricity and green hydrogen, thanks to their status as having some of the highest solar voltaic output in the world.

This strategic move by DFDF into Climate Tech encompasses pivotal sectors such as Food and Agriculture Tech, Building Materials, and Logistics Tech. This expansion follows DFDF’s collaboration with DFF on the ‘Future of Food’ paper, underscoring their unwavering dedication to research and development in sustainability.

Sharif El Badawi, CEO of Dubai Future District Fund, added:

“DFDF is strategically allocating a considerable portion of the fund to climate technology ventures, underscoring our unwavering commitment to the COP/CIF landscape and reinforcing our focus on the Future of Food, Future of Logistics, and the overarching theme of Financial Inclusion. Our pledge extends beyond mere financial investments; it symbolizes our resolute dedication to reshaping Dubai’s venture capital landscape.

“In harmony with the UAE’s vision for economic diversification and sustainable development, as endorsed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, underscores our responsibility to the wider neighborhood of the Global South. By synergizing resources and expertise, we aim to amplify our collective impact, catalyzing growth and fostering a thriving ecosystem where innovation flourishes, and sustainable finance becomes the cornerstone of our economic framework.”

With the UAE hosting COP28, DFDF, DFF, and DIFC are united in their dedication to advancing sustainable finance and innovation. Their collective aim is to set a global benchmark for future initiatives in this field, aligning with the region’s burgeoning potential not only in Climate Tech, but also in alternative proteins. Credit Suisse estimates the worth of this sector to be a staggering US$1.4 trillion by 2050. By establishing themselves as global leaders in alternative protein production, Middle Eastern countries anticipate a significant reduction in their reliance on food imports, currently constituting 85% of the GCC’s domestic food needs. This transformative approach positions the region as a frontrunner in shaping the future of sustainable economies and global trade.