UAE - Mubasher: Abu Dhabi Global Market (ADGM) has inked a Memorandum of understanding (MoU) with the International Renewable Energy Agency (IRENA) to boost investments in renewable energy in the UAE and the region.

Under the agreement, the two institutions will develop a sustainable finance ecosystem that includes renewable energy and supporting sustainability initiatives and programmes, according to a press release on Monday.

The MoU is part of ADGM's commitment to sustainability, as it has launched several initiatives in this field, including Abu Dhabi Sustainable Finance Forum, in addition to signing agreements on sustainability with leading entities.

Commenting on the agreement, the CEO of the ADGM Registration Authority (RA), Dhaher bin Dhaher Al Mheiri, said: "ADGM is continuously looking to work with its strategic partners, locally and internationally, to further the UAE’s sustainability initiatives, including the 2030 agenda, and to safeguard the longevity of the UAE’s financial landscape."

Meanwhile, the director-general of IRENA, Francesco La Camera, remarked: "Through this cooperation, we aim to accelerate low-carbon investment flows building more stable, equitable and climate-safe societies."