Banks in the United Arab Emirates on Monday pledged to mobilize 1 trillion dirhams, or around $200 billion, in green finance, the chair of the country's banking federation told the COP28 climate talks.
Announced on the day dedicated to finance at the event in Dubai, it joins a growing list of pledges on everything from building renewable energy to helping farmers improve soil quality, Reuters reported.
"At this pivotal moment it is my great honor to announce a landmark commitment that, fulfilling the UAE ambition, our UBF banking, national banks, have collectively pledged to mobilize over 1 trillion dirham," Abdul Aziz Al Ghurai said.