Attendees applaud after the announcement of the UAE Consensus during a closing plenary of the 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in Dubai, the United Arab Emirates (UAE), Dec 13, 2023. (PHOTO / XINHUA)

HONG KONG - The Hong Kong Monetary Authority (HKMA) and the Dubai Financial Services Authority (DFSA) on Tuesday announced that a joint climate finance conference will take place in Hong Kong in autumn 2024.

The conference is part of a partnership unveiled Tuesday aimed at exploring how to further develop policy and regulatory responses to support and enable climate finance in the Middle East and Asia.

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It will align with the commitments driven by the United Arab Emirates (UAE)'s presidency of the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change and leverage Hong Kong's role as a leading green and sustainable finance hub in Asia, said the HKMA.

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Chief Executive of the HKMA Eddie Yue said climate change requires joint actions across regions and sectors to tackle, and the new project provides a platform for more regular knowledge sharing and collaboration between the Middle East and Asia on the important subject of sustainable finance.

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The DFSA and the HKMA have collaborated on numerous fronts, including fostering and supporting innovation in their respective markets.