Developing the sustainable finance agenda in Abu Dhabi is at the heart of a new agreement recently signed by Abu Dhabi Global Market, ADGM, and the Authority of Social Contribution, Ma’an.

The two organisations agreed to collaborate across multiple areas of work, in an effort to develop sustainable finance opportunities in the UAE. Sustainable finance opportunities describe any form of financial service that integrates environmental, social or governance criteria into business or investment decisions for the lasting benefit of society.

Khaled Al Suwaidi, Chief Operating Officer of ADGM, and Salama Al Ameemi, Director-General of Ma’an, marked the occasion at a signing ceremony on 15th December 2019, attended bDr. Mugheer Khamis Al Khaili, Chairman of Department of Community Development, and Ahmed Ali Al Sayegh, UAE Minister of State and Chairman of ADGM.

According to a statement, the Memorandum of Understanding, MoU, commits Ma’an and ADGM to work together to support the Ma’an Social Incubator and Social Impact Bonds. "The MoU solidifies cooperation in the field of sustainable finance in general and with the Abu Dhabi Sustainable Finance Forum, as well as other relevant events further outlined in the MoU," it added.

Commenting on the signing, Salama Al Ameemi said, "Ma’an is committed to developing innovative and sustainable solutions that directly address social challenges. This partnership with ADGM is crucial, helping to advance our priorities of growing more community-based and socially responsible organisations in Abu Dhabi and supporting a culture of philanthropy in the Capital."

For his part, Khaled Al Suwaidi said, "We are pleased to leverage synergies and maximise the social impact value with Ma’an. I believe this partnership will enhance the accessibility, efficiency and effectiveness of the various initiatives being developed. It will further encourage us to share knowledge and ideas to facilitate the rendering of Abu Dhabi as a regional hub catering to sustainable finance."

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