The Hong Kong Monetary Authority (HKMA) and the Dubai Financial Services Authority (DFSA) have signed a Memorandum of Understanding (MOU) to deepen their strategic partnership in sustainable finance. The agreement, unveiled at the Joint Climate Finance Conference in Hong Kong, aims to enhance cross-border dialogue, share information on emerging trends, and foster joint research and events in this critical sector.
The conference, which attracted over 240 participants from financial institutions, industry associations, and international organisations, focused on the theme “Building a Net-Zero Asia – Middle East Corridor.” Discussions centered on the demand for transition finance, existing gaps, and opportunities for greater collaboration between Hong Kong and Dubai.
Eddie Yue, Chief Executive of the HKMA said, “Climate change is a global challenge that requires a collaborative response. Hong Kong and Dubai, as the sustainable finance hubs in Asia and the Middle East, and the key gateways between East and West, can and should do more together. The inaugural conference is our first effort to build a ‘Net-zero Asia – Middle East Corridor’. I look forward to many more fruitful collaborations between the HKMA and the DFSA.”
Ian Johnston, Chief Executive of the DFSA said, “As we strive to achieve net-zero targets, it is crucial to establish strong partnerships that allow for the exchange of expertise, regulatory alignment, and the promotion of sustainable investment opportunities. The signing of this MOU with the HKMA represents a pivotal step in reinforcing the cooperation between Dubai and Hong Kong in climate finance. Through its ambitious Economic Agenda D33, Dubai is committed to leading the charge on environmental, social, and governance initiatives. Today’s signing is a testament to our shared ambition with Hong Kong to accelerate the transition towards a low-carbon economy.”
The HKMA and DFSA will work closely to advance sustainable finance and transition finance initiatives, aiming to mobilise capital for green and sustainable economic growth in both regions.