Abu Dhabi:Khalid Humaidan, Governor of the Central Bank of Bahrain (CBB), participated in the opening ceremony of the second edition of the Climate Forum, organized by the Central Bank of the UAE (CBUAE) in Abu Dhabi. The event was held under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan.
According to Bahrain News Agency, during his keynote speech at the opening ceremony, Governor Humaidan emphasized the increasing impact of climate change on financial stability. He highlighted the critical role of central banks and regulatory authorities in enhancing the financial services sector's readiness to handle climate-related risks and promote sustainable finance practices.
Governor Humaidan also detailed Bahrain's climate action initiatives, including its goal to achieve carbon neutrality by 2060, along with broader environmental and development targets. He underscored the need for regional cooperation and knowledge sharing as key elements in building more resilient financial systems and integrating climate considerations into financial and monetary policies.
The Climate Forum gathered central bank governors, regulatory authorities, financial institutions, policymakers, and leading experts to explore the financial implications of climate change and strategies for fostering a sustainable economy. The CBUAE Climate Forum acts as a regional platform to reinforce cooperation and knowledge exchange on sustainable finance and climate-related risk management, aiming to enhance the preparedness of financial institutions through the development of appropriate regulatory frameworks and banking practices.