5 days ago
Department of Energy – Abu Dhabi, Global Climate Finance Centre sign MoU on energy, water efficiency, climate finance
29 May 2025 17:00
ABU DHABI (WAM)The Abu Dhabi Department of Energy (DoE) has signed a Memorandum of Understanding (MoU) with the Global Climate Finance Centre (GCFC).The agreement was signed during the 2025 World Utilities Congress, at a high-level consultation co-convened by the DoE and GCFC in preparation for the 2026 United Nations Water Conference. GCFC has been formally mandated to lead the Finance Track of the agreement was witnessed by Dr. Abdulla Humaid Al Jarwan, Chairman of the Department of Energy (DoE), and Abdulla Balalaa, Assistant Minister of Foreign Affairs for Energy and memorandum was signed by Ahmed Al Falasi, Energy Efficiency Sector Executive Director, and Mercedes Vela Monserrate CEO of GCFC, in the presence of several directors and senior officials from both this occasion, Ahmed Al Falasi, Energy Efficiency Sector Executive Director, stated, 'This agreement represents a strategic milestone in our ongoing efforts to drive the transition toward a sustainable economic model that helps address climate change challenges. We recognise the importance of activating partnerships with leading institutions such as the Global Climate Finance Centre, given their pivotal role in enhancing our capacity to develop pioneering projects and enabling innovative and flexible financing solutions that benefit both the economy and society.'He added, 'We look forward to implementing high-impact initiatives through this collaboration, starting with supporting projects such as 'Cooling as a Service', and moving toward building an effective ecosystem that includes government entities, the private sector, and the community at large.''As we look ahead to the 2026 UN Water Conference, which the UAE will co-host, we are committed to deepening partnerships that deliver measurable progress and scalable innovation in energy and water efficiency, in line with our national priorities.'Mercedes Vela Monserrate, CEO of GCFC, stated, 'This agreement reflects the work already underway between GCFC and the Department of Energy to develop financing mechanisms for energy and water efficiency. It also formalises our collaboration as we lead the Finance Track for the 2026 UN Water Conference. Our focus is on mobilising capital, supporting regulatory frameworks, and delivering practical solutions through a strong pipeline of investable projects.'The MoU seeks to strengthen bilateral partnership through support for the implementation of Abu Dhabi's Finance Strategy and reinforce the Emirate's position as a leading hub for climate finance and innovation. It also aims to build institutional capacities, exchange knowledge and information, and scale financing for energy and water efficiency projects, including behavioral change and environmental conservation MoU outlines specific areas of cooperation, including: Development of financing instruments for energy and water efficiency infrastructure; Capital structuring tools such as guarantees, linked loans, and bond frameworks; Technical support and capacity-building for regulators, project developers, and financial institutions; Policy and regulatory alignment to support investment-readiness; High-level convenings to support pipeline development and institutional coordination.
GCFC and the DoE will also work together to align financing solutions with Abu Dhabi's strategic priorities and help position the Emirate as a regional leader in climate finance.
