ETAF has evolved from a bilateral relationship with the Abu Dhabi Fund for Development (ADFD) to an inclusive multi-stakeholder Climate Finance Platform.
Abu Dhabi Fund for Development
Abu Dhabi Fund for Development (ADFD) is the UAE’s leading bilateral development financing institution that supports developing countries achieve sustainable and inclusive growth. Established in 1971 and owned by the Abu Dhabi Government, ADFD finances the development of infrastructure projects in developing nations through the use of concessionary loans, long-term and strategic investments, and exports financing that help partner countries achieve highly impactful economic, social and environmental objectives. ADFD also manages grants offered by the Abu Dhabi government to developing nations, and supports the UAE’s overall agenda for international aid.
Asian Infrastructure Investment Bank (AIIB)
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 105 approved members worldwide. AIIB is capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
As one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, Swiss Re works with the private and public sector to make the world more resilient. Founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally, with approximately 14,000 employees. As a re/insurer, Swiss Re is both impacted by climate change and play an important role in tackling it. With its vision of making the world more resilient, Swiss Re is fully committed to working with governments, clients and other stakeholders to reach net-zero emissions in our operations by 2030 and in our underwriting and asset management by 2050. Swiss Re will help advance the energy transition and continue to provide re/insurance solutions to support the expansion of renewable energy and invest in the scaling of carbon removal technology. Swiss Re is also a member of RE100, working to increase global corporate commitment to renewable electricity.
Abu Dhabi’s renewable energy company Masdar is advancing the commercialisation and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Masdar's mandate is to help maintain the UAE’s leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Today, Masdar is active in more than 40 countries, including the UAE, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, the UK, the US, Australia, Serbia, India, Indonesia, Uzbekistan, and many more.
Strategic Support from the Ministry of Climate Change and Environment (MOCCAE)
The UAE’s journey in climate action started with its accession to the United Nations Framework Convention on Climate Change (UNFCCC) in 1995. In 2015, the UAE became the first country in the GCC region to sign the Paris Agreement, and in October 2021, the nation reaffirmed its climate leadership by launching the UAE Net Zero by 2050 Strategic Initiative as the first country in the region to pursue a net-zero pathway. Recognising the crucial role of renewable energy in fighting climate change, the UAE is a key driver of renewables deployment at home and abroad. The nation has invested US$16.8 billion in renewable energy projects in 70 countries, and targets a 50-percent share of clean energy in its domestic energy mix by 2050. As a prime convener of global climate action, the UAE is gearing up to host the 28th UN Climate Change Conference (COP28) in 2023. The nation’s climate efforts are spearheaded by the Ministry of Climate Change and Environment (MOCCAE).