Chapter Zero UAE launched to help chairs and board directors align with UAE’s Net Zero by 2050 Vision

ABU DHABI, 31st October, 2024 (WAM) — The Climate Governance Initiative has announced the launch of Chapter Zero UAE, an initiative designed to empower board directors across the UAE to guide management in addressing climate risks and opportunities, ensuring they align with the nation’s net-zero ambitions.

This is the 33rd Chapter in the Climate Governance Initiative’s global network and was launched in the presence of H.H. Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of the UAE Independent Climate Change Accelerators (UICCA) and the Co-Founder of Aurora50, at an event in Abu Dhabi.

It will draw on the World Economic Forum’s Principles for Effective Climate Governance, sharing global best practices on managing climate risks to ensure UAE companies are at the forefront of climate leadership.

Chapter Zero UAE members, who will include Board Members, sustainability consultants and CEOs, will have access to tailored training, peer-to-peer learning opportunities, networking events, newsletters, a certified educational programme and the latest resources to help them integrate climate governance into decision-making processes within their organisations.

H.H. Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Chairperson of the Advisory Board of Chapter Zero UAE, said, “The UAE has always been at the forefront of sustainability efforts in the region. From spearheading innovative clean energy solutions to establishing global partnerships for environmental preservation, our leadership has placed sustainability at the heart of our development strategy. This dedication is not only a reflection of our values but a responsibility we all share. Chapter Zero UAE will ensure this responsibility is translated to our board rooms, by providing corporate leaders with the tools and insights needed to embed climate governance into decision-making processes and accelerating the achievement of our commitment to net zero by 2050.”

Julie Baddeley, Chair of the Governing Board of the Climate Governance Initiative, commented, “As we look ahead to COP29 this month, it is clear that board directors have a major role to play in delivering the ideas, ambition and action necessary to drive our transition to a net-zero future. I am delighted to see the launch of Chapter Zero UAE, the 33rd Chapter in the Climate Governance Initiative’s global network and third Chapter in the Middle East and North Africa. Chapter Zero UAE will have the full support of the global network as it equips board directors in the UAE to address climate in their businesses and make a real impact on the climate crisis.”

Ahmed Al Calily, Chief Strategy & Risk Officer at Mubadala Investment Company, stated, “We’re proud to partner in launching Chapter Zero UAE, a critical platform for advancing climate governance. At Mubadala, responsible investing is at the core of our mission, and we believe that integrating environmental considerations into investment decisions and stewardship is essential for creating enduring value. We believe through Chapter Zero UAE, board directors will be empowered to make climate action an integral part of corporate strategy, driving resilience, long-term value, and a sustainable future for the UAE and beyond.”

Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East, added, “HSBC is delighted to be one of the founding donors for Chapter Zero UAE. We have a long history of supporting other Climate Governance Initiative (CGI) chapters around the world including the UK and more recently Chapter Zero Egypt. Working with clients on their carbon transition journey is a key part of our Net Zero Transition Plan and we believe the oversight and leadership from Boardrooms will be critical for each organisation. This very important initiative gives Board Directors some of the tools they need to help drive change here in the UAE.”

The Chapter’s structure includes an Advisory Board, Steering Committee, Subcommittees, and Members, working in unison to provide guidance and resources for board directors across the UAE.

With key partners such as Aurora50, HSBC, Mubadala, UAE University, University of Dubai, and Simmons & Simmons, the Chapter is well-positioned to lead corporate climate governance efforts in the region.