Category: Industry

DUBAI: Majra – National CSR Fund hosted a workshop – during COP28 – to raise awareness on the importance of green skills for a sustainable future.

The workshop titled ‘Sustainable Futures: Navigating Green ESG Skills for Young Professionals’ convened an international diverse panel of experts and young minds from different universities across the UAE into the pivotal role of green skills in today’s job market and their significance in fostering a sustainable world.

The panel discussion, moderated by Dana Kamali, Chief Business Officer of Majra – National CSR Fund, featured esteemed experts including Safa El Tayeb El Kogali, Country Director for the GCC at the World Bank; Jörg Eigendorf, Chief Sustainability Officer at Deutsche Bank and Ejaj Ahmad, Founder CEO of the Global Youth Leadership Centre.

The diverse panel brought multifaceted insights, addressing challenges in climate mitigation, advocating for inclusive approaches to green skills development and proposing actionable solutions.

The workshop aimed
to shed light on the critical need for green skills, emphasising their impact on job market resilience and career prospects. The event tackled the rapid evolution of sustainability and green technologies, identifying the pressing gap between the demand for qualified professionals and the awareness surrounding the importance of these skills among individuals, organisations, and educational institutions.

Recognising the pivotal role of the younger generation as stewards of our future, the workshop aimed to equip attendees with a comprehensive understanding of green skills. Through engaging discussions and insights shared by industry leaders, participants gained a global perspective on the relevance of green skills and a wide spectrum of career opportunities available in this field.

Key discussions revolved around anticipating and adapting to industry evolution, emphasising the importance of both technical expertise and soft skills like leadership in the green economy.

Panelists also shared real-life experien
ces and initiatives driving the green transition, highlighting practical aspects that are crucial for every individual to consider for effective change. The workshop not only underscored the urgency of embracing green skills but also emphasized the responsibility of future generations in shaping a sustainable world.

Attendees left the event inspired, equipped with insights and ready to contribute to the global shift towards sustainability.

Dana Kamali said, ‘Embracing ESG is not just a choice; it’s an imperative for our collective future. Guiding this transformative journey, the UAE government, through Majra, takes a leading role-launching manuals and training to ensure people are better equipped to thrive in the future job market while championing sustainability. Hosting a distinguished panel of international speakers at COP 28 to highlight the importance of Green Skills, underscores the universality of this essential journey toward a sustainable future.’

El Kogali said, ‘you don’t have to be an engineer
or a scientist to do something for the planet, you could be anyone, even an artist can help with the planet. You need to know what impact you are making and how to ensure you do it sustainably.’

Jörg Eigendorf said,’You may think, that you need engineering, accounting or risk skills to become a Chief Sustainability Officer. And yes, it’s very useful if you know how to run a business and have good technical or communication skills. But I truly believe that one of the most important skills to have in order to be successful as a CSO is the ability to bring people together and to retain curiosity and passion for the topic in addition to discipline. You won’t have all the answers but you must be able to rally the experts behind a greater idea.’

Ejaj Ahmad said, ‘To tackle the climate crisis it’s imperative that we equip youth with leadership and green skills and engage them in climate action. Investing in youth leadership today is critical to ensuring that the next generation will take right climate-friendly dec
isions tomorrow in government, business and civil sectors.’
Source: Emirates News Agency

DUBAI: The UAE has been appointed to chair the World Bank’s Cloud Computing Working Group, in recognition of the country’s remarkable progress in advanced technology and digitalisation, as well as its role as a global leader in digital transformation.

The selection also acknowledges the UAE’s success in applying international best practices in cloud computing, and supporting government entities and private-sector companies to transition to cloud computing systems by implementing the most advanced cyber solutions to protect data.

Previously co-chaired by Singapore and the United Kingdom, the Cloud Computing Working Group brings together 27 countries, international organisations, and leading companies, with an aim to advance global standards and practices in cloud computing, fostering innovation and sustainable digital development.

Hamad Obaid Al Mansoori, Director-General of Digital Dubai, said, ‘The UAE’s selection to chair the World Bank’s Cloud Computing Working Group reflects the exceptional reputation
the country enjoys, shaped by the vision of its leadership. In the UAE, we have always worked – and continue to work – according to a clear roadmap towards a future of leadership and excellence, embracing the latest technologies, including cloud computing, which is a key pillar of smart cities and digitalised knowledge societies. Working through international platforms, such as the World Bank, allows us to interact with experiences of like-minded pioneers, exchanging insight and experiences to benefit all parties involved.’

Dr. Bushra AlBlooshi, Senior Consultant Research and Innovation at Dubai Electronic Security Center (DESC), an affiliate of Digital Dubai, chaired the Group’s meeting on 28th November 2023.

‘The UAE’s appointment to chair the World Bank’s Cloud Computing Working Group demonstrates the leading position that the country has come to occupy in the field of future technologies in general, and cloud computing in particular,’ Dr. AlBlooshi said. ‘Guided by the vision of its wise leadership, the
UAE has succeeded in asserting its presence on the world stage as a technological innovation hub, an inspiring model for digital transformation, and an example to be emulated in building a digitalised knowledge economy and society that enhance people’s happiness and well-being.’

With effective contributions from the UAE, the World Bank’s Cloud Computing Working Group developed the GovTech Procurement Practice Note, which offers comprehensive recommendations to World Bank teams and other countries on how to prepare for the application of GovTech systems. The note serves as a blueprint outlining a five-step GovTech procurement framework to guide readers through a strategic and holistic plan for the design, procurement and implementation of GovTech solutions.

Dr. Bushra AlBlooshi explained that the report was designed to improve guidance offered to countries around the world in the fields of data security and safeguarding digital clouds. ‘The Practice Note provides countries with the insight needed to confront
these challenges. It includes a reliable roadmap for implementing potential solutions and procuring GovTech to improve government services and information systems,’ she said. ‘With its meaningful contributions to the development of this report, the UAE is setting a global standard in driving digital transformation.’

The World Bank launched GovTech Working Groups to provide thought leadership, facilitate the exchange of ideas, and support the development of new GovTech solutions. The Cloud Computing Working Group, which includes 27 member governments, private sector organisations, think tanks, and international organisations, has played a pivotal role in advising and providing input on the Cloud Computing How-to-Note produced by the World Bank GovTech Team.
Source: Emirates News Agency

ABU DHABI: Abu Dhabi Finance Week (ADFW), presented by Abu Dhabi Global Market (ADGM) with Abu Dhabi Department of Economic Development (ADDED) as headline partner has successfully concluded its 2023 edition, reaffirming its growing status as a key financial annual event of the MENA region as it hosted 18,000+ people from the financial industry during its four thematic days, an increase of more than double from its 2022 inaugural edition.

The second edition debated the theme ‘Investing in the Transition Era’ this year, focusing on the economic, technological, and energy transitions that are expected to shape the next decade of global finance and world economies, in a changing world order. It hosted five main events spread across 46 sub-events that saw 180+ sessions and 300+ speakers taking the stage.

ADFW attracted a diverse and international audience, of which 39% of the total represented an international audience, majorly consisting of business leaders, including over 3,500 senior financial leaders from t
op global financial firms, industry experts, policymakers, regulators, investors, and bankers travelling to Abu Dhabi from over 100 countries included the following; United Kingdom, United States, India,, Mainland China, Singapore, Switzerland, France and Canada and the GCC region.. The event featured a series of five global leadership forums, with heads of firms across Private Equity, Capital Markets, Hedge Funds, Asset Managers, Venture Capitalists, Institutional Investors, Investment Banks, and fintechs collectively managing over USD 30 trillion in assets – a staggering 22% of the global economy.

Ahmed Jasim Al Zaabi, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Department of Development (ADDED) and ADGM, said, ‘In the past two years, ADFW has served as a platform to host global influential thought leaders in the finance and investments sector to discuss critical topics outlining the changing industry dynamics and opportunities and in further reinforcing ADGM’s position as one o
f the leading financial centres in the MEASA Region. With this year’s theme being ‘Investing in the Transition Era, the discussions focused on tackling challenges and harnessing opportunities within a transition era. It is clear that markets are responding to major geo-economic, technological and energy transitions, and ADGM is proud to be at the centre of these conversations. As leaders work to develop intelligent strategies to achieve progress and growth across the next decade, our future thinking and future-ready international financial centre is now a key pivot-point.

With several strategic outcomes emerging from Abu Dhabi Finance Week, including the announcement of establishment of over a dozen major institutions, our reputation as a Capital of Capital continues to thrive. Our ambitions are accelerated, and we look forward to an even bigger ADFW in 2024.’

2023 has been a milestone year for ADGM, with 14 major financial institutions representing a total AUM of USD 452 billion announcing the establishmen
t of a presence within ADGM with major names such as NinetyOne, Rothschild Co, GQG Partners, TCI and eToro during the four-day event.

It also witnessed the signing of 25 Memorandums of Understanding (MoUs) between international and regional players, setting the bar high for the growth of the financial sector and its contribution to Abu Dhabi’s rising falcon economy in 2024.

In its commitment to advancing the financial and sustainable economic landscape of the UAE and the industry, ADFW hosted five key theme events, starting with the Abu Dhabi Economic Forum and then followed by Asset Abu Dhabi, the Global Financial Regulators Summit, the 7th edition of Fintech Abu Dhabi and the R.A.C.E. (Regulation, Awareness, Collaboration, Ecosystem) Sustainability Summit. The forum also included breakout events such as Asset Abu Dhabi Private, the Asset Abu Dhabi GP-LP Programme, and The International Family Office Forum. Blockchain Abu Dhabi, AI Abu Dhabi, and Risk 4.0.

Running just ahead of COP28, this year’s edition
received increased footfall as world leaders and representatives gathered to host climate-related discussions in the UAE.
Source: Emirates News Agency

DUBAI: John Silk, Minister of Natural Resources and Commerce of the Marshall Islands, has praised the UAE’s exemplary organisation of the 28th Conference of the Parties (COP28).

Speaking about his country’s efforts in terms of climate action and adaptation to climate change, Silk noted that the Marshall Islands launched its first National Adaptation Plan last week, and it was submitted as part of COP28.

In a statement to the Emirates News Agency (WAM) during the Conference, the Minister of Natural Resources and Commerce said that his country’s contribution to global emissions is zero, but the nation has sought solutions to reduce emissions to move proactively.

Regarding renewable energy, the minister said that the Marshall Islands is a small country with a population of only 40,000 people, spread over more than 33 small islands, noting that it is difficult for them to build solar energy for everyone. However, he said that his country is committed to increasing the use of renewable energy.

In conclusion, t
he Minister of Natural Resources and Commerce of the Marshall Islands highlighted the importance of climate action and adaptation to climate change for small island states.
Source: Emirates News Agency

GENEVA:Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Chair of the WTO’s 13th Ministerial Conference in Abu Dhabi, delivered opening remarks at a two-day meeting at the World Trade Organisation’s (WTO) General Council in Geneva.

His participation at the General Council was part of a series of engagements where Al Zeyoudi worked intensively with WTO Members on the range of issues in the lead up to the WTO’s 13th Ministerial Conference, set to take place in Abu Dhabi from 26th to 29th February 2024.

During the General Council meeting, WTO members began discussing ways to reduce harmful government subsidies, ensure certainty for the global e-commerce marketplace, expand access to life-saving medical technologies, and help developing countries, and least developed countries in particular, to reap greater benefits from the global trading system.

Alongside the meeting in Geneva, Al Zeyoudi met with WTO Director-General Ngozi Okonjo-Iweala to review the progress of the MC13 agenda as well
as with several Ambassadors, Permanent Representatives, and senior officials to discuss the latest developments in the WTO negotiations.

Al Zeyoudi also joined the UAE-hosted reception, which was attended by leaders from many different countries.

Al Zeyoudi said, ‘We are now less than 10 weeks from MC13, and we must all intensify our work to bridge remaining gaps within the Membership on key issues where the international community, and business large and small, need action. The time is now to build consensus on priority issues such as renewing the moratorium on duties on e-commerce, expanding access to medical goods, narrowing differences on agriculture, and delivering tangible results for developing countries. It is crucial for delegations and capitals to advance progress in the coming weeks toward closing these gaps.’

The Ministerial Conference is the topmost decision-making body of the WTO that can decide on all matters under its range of multilateral trade agreements and is being Chaired by Dr Thani b
in Ahmed Al Zeyoudi. MC13 will bring together the WTO’s 164 Members to discuss ways forward on a number of trade issues including digital trade and e-commerce, agriculture, investment facilitation for investment, WTO Reform and dispute settlement, and trade and environment and fisheries subsidies.
Source: Emirates News Agency

ABU DHABI: The Central Bank of the UAE (CBUAE) has revoked the licence of Cogent Insurance Broker (Cogent), an insurance broker operating in the UAE, and struck its name off the Register, pursuant to Article 22 (2) of the Board of Directors Resolution No.15 of 2013 Concerning Insurance Brokerage Regulations.

The administrative sanction is a result of the findings of an examination conducted by the CBUAE, which revealed that Cogent had a weak compliance framework and failed to comply with its regulatory obligations.

The CBUAE, through its supervisory and regulatory mandates, works to ensure that all insurance companies and insurance related professionals abide by the UAE laws, regulations and standards adopted by the CBUAE. This to safeguard the transparency and integrity of the insurance industry and the UAE’s financial system.
Source: Emirates News Agency