The Gulf Capital Market Association summit 2023 paves the way for sustainable finance in the region

Press Release

Dubai – The Gulf Capital Market Association (GCMA) successfully concluded its 2023 Summit, “The Path to a Sustainable Capital Market,” held as part of the COP28 Climate Action Innovation Zone. The event brought together global industry leaders, investors and market participants to discuss the critical role of the region’s financial markets in the global transition to sustainability.

The summit commenced with opening remarks by Hadi Melki, GCMA Chairman and Regional Head Middle East at S&P Global Ratings, followed by a special presentation on “The Decarbonization Opportunity” by Myron Scholes, Nobel Laureate and Chief Investment Strategist at Janus Henderson Investors.

The detailed discussions during the event addressed pressing challenges and opportunities in the contemporary environmental and financial landscape. Some key highlights of the event included:

• Discussions on the region’s potential in achieving its Net Zero targets in the context of impact investment.
• The unique position of the Gulf’s Islamic financial market and capital markets in the global sustainable transition.
• The burgeoning sector of green hydrogen, exploring innovative project finance solutions to unlock its potential.
• Discussions around carbon offsets and the risks and opportunities that exist in the carbon credits market.

Hadi Melki, Chairman, Gulf Capital Market Association, said:
“This summit marks a significant milestone in the journey towards sustainable capital markets in the region. The convergence of the GCMA summit with COP28 couldn’t be more timely. The debates held here form the basis for future financial strategies, rooted in responsibility and sustainability, and we look forward to greater developments around this.”

The event was sponsored by Gold Partners S&P Global Ratings, Natixis and Fitch Ratings and Silver Partners Janus Henderson Investors and Instinctif Partners.