Sustainable Development Goals

The Ministry of Finance concluded an in-depth study on the role of financial policies in achieving climate change objectives, followed by a workshop held in September 2023 with the same theme, as experts and specialists from local financial sectors attended it. The study and the workshop outlined how climate change, resource depletion, biodiversity loss, revenue reduction and over-expenditure impact financial sustainability. They also shed light on public finance risks, as weather extremes and environmental obligations put pressure on public budgets.Policy and budget reforms have also been under the spotlight within the same framework, recognising that the green transition requires investments while generating new revenue streams through green taxes and incentives.Therefore, enhancing transparency and accountability by disclosing environmental risks and green budgets fosters trust and reinforces responsible public financial management, aiming to ensure public financial sustainability, drive economic growth, and build a resilient future.

The Ministry of Finance actively participated in the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), which was hosted by the UAE from November 30 to December 12, 2023. It had a significant and impactful presence at the conference. Through targeted meetings and initiatives, the Ministry highlighted the vital role of financing climate related issues and supporting green development projects to foster sustainable economic growth.
This participation underscored the Ministry’s commitment to enhancing productive international cooperation to address climate challenges and ensure a sustainable future for current and future generations.

The Sustainable Digital Services (IT) Guideline is designed to establish a framework for integrating sustainable practices into the federal entities’ digital operations. The guideline aligns with the Ministry of Finance’s commitment to environmental stewardship, social responsibility, and economic value creation, while supporting the UAE’s national sustainability goals.

Through this approach, the Ministry aims to align its environmental objectives with the UAE’s vision for digital transformation. This is achieved by prioritizing energy efficiency, reducing carbon emissions, optimizing resource management, and minimizing environmental impact, all while continuing to deliver innovative, secure, and reliable digital services.
The Ministry’s sustainable digital strategy focuses on leveraging renewable energy, adopting cutting-edge technologies such as artificial intelligence and cloud computing, and implementing eco-friendly practices across all IT operations. This strategy strengthens the role of digital transformation in advancing sustainability and supporting environmental governance.

• Environmental impact reduction by minimizing carbon emissions and energy consumption through the adoption of renewable energy, and implementing responsible e-waste management practices.
• Resource optimization by enhancing operational efficiency, and fostering sustainable procurement practices.
• Social and economic value creation by promoting digital inclusion, driving workforce development and contributing to job creation in the green IT sector.
• Innovation and leadership in sustainable IT practices.
• Strengthening IT compliance and Governance through regular monitoring, reporting, and risk management to support sustainable operations.

To read the Sustainable Digital Services (IT) Guideline, click here.

The Ministry of Finance has contributed to numerous international initiatives for a sustainable future, including:

• His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, announced the establishment of a $30 billion fund for global climate solutions at the UN Climate Change Conference (COP28).
• The UAE pledged $100 million to the ‘loss and damage’ fund to help compensate the most vulnerable countries affected by climate change.
• The UAE allocated $200 million to finance the Resilience and Sustainability Trust (RST), affiliated with the International Monetary Fund and the new financial framework.
• The UAE announced its participation in funding the Poverty Reduction and Growth Trust (PRGT), allocating US$200 million (AED735 million) within its efforts to expand concessional financing for low-income countries. This aligns with the UAE’s unwavering efforts to realise the United Nations’ Sustainable Development Goal 1 (SDG 1) – no poverty – alongside other challenges that the world’s nations must unite to address for a better and more sustainable future.