Coinciding with the Abu Dhabi Sustainability Week, HSBC’s sustainability survey has revealed significant momentum among businesses in the UAE in advancing sustainability and climate transition. This shift reflects a clear movement from aspiration to tangible implementation, outpacing global trends.
The findings from the UAE are part of HSBC’s global survey, which gathered insights from senior business leaders across 12 international markets. It uncovered unprecedented confidence in linking sustainability with long-term economic value.
According to the survey, 94% of firms in the UAE view climate transition as a business opportunity, with 58% considering it an emerging priority and 36% recognizing it as a major strategic focus. This indicates that sustainability is firmly embedded in the core growth strategies of companies. Furthermore, 90% of businesses expressed their intention to accelerate their climate transition approach within the next three years, surpassing the global average by over 12 percentage points.
The survey also highlighted a definitive trend towards practical investment, with 55% of companies planning to invest in infrastructure and technologies that adapt to climate change, aimed at mitigating operational and economic risks associated with it, significantly exceeding the global average.
In terms of execution, 56% of UAE companies classify themselves as advanced in adopting climate technologies, while 53% stressed the need for broader access to affordable financing to support the expansion of these solutions. This underscores the critical role of financial institutions in hastening emission reductions and facilitating the desired transition.
In this context, Mohammed Al-Marzouqi, CEO of HSBC Middle East Limited in the UAE, noted that the survey results illustrate how deeply integrated sustainability is into the nation’s economic agenda, enhancing competitiveness, innovation, and growth. He emphasized that the UAE’s forward-thinking approach accelerates investment in cutting-edge technologies, resilient infrastructure, and future competencies at a pace surpassing that of global counterparts.
He added that HSBC is committed to providing the necessary capital and expertise through partnerships with clients and other stakeholders to support this direction, thereby reinforcing the UAE’s leadership in sustainable global growth.
Additional findings from the survey revealed that 89% of companies in the UAE consider the impact of climate transition on brand and reputation as critically important, while 44% warned of a decline in competitiveness if climate transition goals are not achieved. Moreover, over half of the companies reiterated the importance of accessible financing to broaden the use of climate technologies.
Jennifer Shamas, Regional Head of Sustainable Financing and Climate Change at HSBC Middle East, emphasized that ambitious goals require practical enabling factors, particularly access to scalable financing and technologies. She highlighted that turning plans into reality necessitates close collaboration among policymakers, businesses, and financial institutions.
The survey results align with studies published during the Abu Dhabi Sustainability Week, including reports from the UAE Climate Action Alliance and Mohammed bin Rashid School of Government, which underscore the growing regional momentum towards decarbonization and enhancing climate resilience, supported by strong policies, financing, and institutions.