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The UAE Bank Federation revealed that major banks, including FAB, ADCB, ENBD, DIB, Mashreq, and ADIB, have collectively allocated over AED 190 billion (US$51.8 billion) for green financing across various renewable energy, waste-to-energy, and green technology projects by the close of 2022. This substantial investment aligns with the Central Bank’s Sustainable Finance Working Group guidelines and wider sectoral sustainability targets, in harmony with the “Year of Sustainability” initiative and the upcoming COP28 hosted by the UAE.

Over AED 190 Billion is Allocated by UAE Banks for Green Financing

The UAE Bank Federation revealed that major banks, including FAB, ADCB, ENBD, DIB, Mashreq, and ADIB, have collectively allocated over AED 190 billion (US$51.8 billion) for green financing across various renewable energy, waste-to-energy, and green technology projects by the close of 2022. This substantial investment aligns with the Central Bank’s Sustainable Finance Working Group guidelines and wider sectoral sustainability targets, in harmony with the “Year of Sustainability” initiative and the upcoming COP28 hosted by the UAE.

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