LIBF MENA, a leading institution dedicated to advancing financial education and thought-leadership in the Middle East, proudly announces the release of their latest whitepaper, titled “The 2024 priorities for building a sustainable financial services firm in the Middle East”. Authored by LIBF MENA faculty members and renowned subject matter experts, Emmanuel Rondeau and Vera Spencer Koubek, the whitepaper addresses the need for financial services firms in the MENA region to embrace sustainability as a core aspect of their business strategy.
The whitepaper begins by acknowledging the impact of COP28 on sustainability discussions, emphasising the move away from fossil fuels and the heightened focus on agriculture and agrifinance. The authors stress the importance of financial institutions moving beyond political statements, comparing them to plans for a new garden that requires careful layout, nurturing, and management. They set out a comprehensive guide for bankers and financial institutions in the MENA region, offering actionable insights to navigate the transition to sustainability in 2024.
Key highlights of the whitepaper
- Five specific tasks for banks in 2024: from keeping abreast of key updates on taxonomy and green regulations, to focusing on the business opportunities around the ESG transition. The whitepaper outlines tasks that financial institutions must prioritise this year to make tangible progress in transitioning to sustainability.
- Two major sectorial challenges: the authors tackle the challenges of sustainable agriculture, carbon offsets, and the complexities in excluding “sin stocks.” They also delve into the evolving landscape of carbon markets, emphasising the growth and challenges of the voluntary carbon market, including issues of standardisation and the necessity for external audits.
Ehsan Razavizadeh, Managing Director of MENA and Asia, shares his enthusiasm about the release, “At LIBF MENA, we are committed to shaping the future of the financial services industry in the Middle East. This whitepaper serves as a roadmap for banks in the region, offering clear guidance on how to integrate sustainability into their core business practices. It is not just a theoretical framework, it provides actionable steps that required immediate action.” Access the full whitepaper today https://mena.libf.ac.uk/2024/02/26/libf-mena-whitepaper-the-2024-priorities-for-developing-a-sustainable-financial-services-firm-in-the-middle-east/
