UAE Banks Commit over USD270-billion Towards Climate Change Initiatives
UAE Banks Commit over USD270-billion  Towards Climate Change Initiatives

Dubai witnessed a groundbreaking announcement as banks in the United Arab Emirates (UAE) pledged a staggering one trillion dirhams to combat climate change. This monumental aid, equivalent to one lakh crore, aims to bolster renewable energy initiatives and enhance agricultural land quality, as confirmed by banking authorities.

The UAE Bank Federation spearheaded this financial commitment, emphasizing the pivotal role of financial institutions in advancing renewable energy endeavors. Chairman Abdul Aziz Al Ghurair affirmed the UAE banks' collective pledge of support.

The UN climate summit held discussions primarily centered on economic sectors, shedding light on the dire impact of climate change on women. Notably, a Dubai summit underscored the disproportionate hardships faced by women due to climate-related catastrophes, drawing attention from key figures like the World Bank chief.

During the summit, Barbados Prime Minister Mia Motley highlighted the unprecedented focus on intertwining climate and health issues. She stressed that women bear the brunt of climate change consequences, echoing sentiments echoed by UN Representative Razan Khalifa Al Mubarak, who urged attention to the plight of women and girls.

Simultaneously, public interest surged as more attendees flocked to the Green Zone at the Climate Summit. Access to this zone remains open to the public until the 12th of this month, coinciding with the conclusion of the summit on the 13th.

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