Monday, September 25, 2023
  • About Us
  • Contact Us
UAE247.CLUB
No Result
View All Result
SUBMIT NEWS
  • Home
  • Arts
  • Business
  • Entertainment
  • Health
  • Real Estate
  • Tech
  • Travel
  • Middle East
  • Press Releases
  • Home
  • Arts
  • Business
  • Entertainment
  • Health
  • Real Estate
  • Tech
  • Travel
  • Middle East
  • Press Releases
SUBMIT NEWS
No Result
View All Result
Writy.
Submit PR
Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East

LIBF MENA releases whitepaper on how satellites, artificial intelligence and machine learning can help firms measure their ESG exposures

Newsroom Editor by Newsroom Editor
November 1, 2022
in Middle East
Share on FacebookShare on Twitter


  • A whitepaper from The London Institute of Banking & Finance MENA examines how the current surge in ‘environmental, social, and governance’ (ESG) awareness in the Middle East has caused a major shift in the region’s financial services ecosystem.
  • Given the upcoming UN Climate Summits (COP 27 and 28) will be hosted in the MENA, the region is expected to take even greater strides in ESG led practices.

Abu Dhabi, UAE — (ARAB NEWSWIRE) — The London Institute of Banking & Finance MENA (LIBF MENA) – an internationally recognised organisation delivering outstanding financial education to banks and other organisations in MENA – today released a whitepaper with the title How FinTech can help firms measure their ESG exposures.

There are several dimensions to this particular challenge. First, supply chains are large and complex. Globally, the average ‘original equipment manufacturer’ (OEM) has about 50,000 suppliers, many of which are small and medium-sized enterprises that have limited ability to collect data.

Second, regulations on disclosure of ESG matters are being tightened, in line with the requirements of the Task Force on Climate-Related Financial Disclosures (TCFD). For businesses, the potential costs of non-compliance are rising.

However, companies will be hard-pressed to meet ESG reporting standards. According to consultants McKinsey, carbon accounting systems now are much like cost accounting systems of 40 years ago. There is a lack of broadly accepted standards and software systems that can generate the reports that are needed.

Technology will provide the answers. Geo-analytic firm, Kayrros, for instance, uses satellites, artificial intelligence (AI) and machine learning (ML) to provide its clients with data on environmental issues. Bigtech firms like Salesforce could also have a key role to play.

Regional focus

This whitepaper examines how the current surge in environmental, social, and governance (ESG) standards in the Middle East has caused a major shift in the financial services industry. The region has been seeing an increase in sustainable finance transactions from the private and the public sectors. Decision-makers in both are increasingly incorporating ESG considerations.

Given that the upcoming UN Climate Summits (COP 27 and 28) will be hosted in the MENA region, the region is expected to take even greater strides in ESG-led practices.

“There are positive business opportunities in the Middle East for corporations that are moving quickly to align their ESG priorities with the broader vision of their governments,” said Kareem Refaay, Managing Director, The London Institute of Banking & Finance MENA.

“Corporates and entities in the region are embracing ESG not driven by the rationale of simply achieving energy efficiencies and cost savings, but the belief in the approach that embedding an ESG strategy will create value, including, but not limited to, environmental sustainability, staff welfare and engagement, as well as broader societal wellbeing,” he added.

Read LIBF MENA whitepaper: How technology can be incorporated into ESG practices and systems

Media Contact:
Nigel Sillitoe
CEO and Founder
Insight Discovery
sillitoe@insight-discovery.com

###
This press release is issued through Arab Newswire (
www.arabnewswire.com) – a newswire service for Arab World, Middle East and North Africa (MENA), and it is distributed by EmailWire™ (www.emailwire.com) – the global newswire service that provides Press release distribution with guaranteed results™.

 





Source link

Tags: environmentalESGfinanceFinance MENAFINTECHgovernanceLIBF MENAMENAsocialThe London Institute of Banking &
Previous Post

Mehmet Tatlici Indicted for Influencing Judicial Officers and His Attorney Jeremy D. Friedman Investigated by Florida Bar

Next Post

Philippians: A Preacher’s Commentary: With Reference to the Greek Text

Related News

A Bold Step Forward for Türkiye’s Financial Future, PayFix Officially Acquires BankPozitif

A Bold Step Forward for Türkiye’s Financial Future, PayFix Officially Acquires BankPozitif

by Newsroom Editor
September 16, 2023

Chairman of BankPozitif's Board of Directors Erkan Kork INSTANBUL, Türkiye — (ARAB NEWSWIRE) — Erkan KORK, a prominent figure among Türkiye’s successful...

Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East

[Citibank] – Unlock a World of Benefits with Citibank Rewards Credit Card

by Newsroom Editor
September 16, 2023

DUBAI, UAE – (ARAB NEWSWIRE) — Credit cards can be helpful financial tools for everyone. In particular, the Citi Rewards...

Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East

[Citibank] – Investment Options and Services Offered by Citibank in the UAE

by Newsroom Editor
September 16, 2023

DUBAI, UAE – (ARAB NEWSWIRE) — Investing constitutes a crucial part of growing money and is done primarily to receive...

Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East

A Checklist for Selecting the Best Credit Card in UAE

by Newsroom Editor
September 16, 2023

DUBAI, UAE – (ARAB NEWSWIRE) — From paying for everyday purchases to getting some extra cash for financial emergencies, a...

Next Post
Philippians: A Preacher’s Commentary: With Reference to the Greek Text

Philippians: A Preacher's Commentary: With Reference to the Greek Text

UAE247.Club™ publishes and aggregates business, socio-economic, Tech and industrial news on UAE, Middle East and North Africa (MENA).

Press release distribution services
We provide press release distribution to media in United Arab Emirates, the Arab world and the GCC/MENA regions. Submit a press release today or contact us.

Latest News

Recent Posts
  • Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent
  • Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent
  • Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent
  • The UAE’s Largest Heritage Museum Celebrates ‘Family Weekend’ in Dubai; Here’s A Glimpse – Curly Tales

Category

Arts
Business
Entertainment
Health
Real State
Tech
Travel
Middle East
Press Releases

Subscribe to Our Newsletter

    UAE247.CLUB™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC

    Submit News / About Us / Contact Us
    No Result
    View All Result
    • Home
    • Arts
    • Business
    • Entertainment
    • Health
    • Middle East
    • Press Releases
    • Real Estate
    • Tech
    • Travel
    • About Us
      • Submit a Press Release
      • Contact Us

    UAE247.CLUB™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC