
"Finance is the key that can unlock climate action and we are committed to supporting and facilitating the ongoing review of international financial institutions to scale up public financing, leverage private finance and improve access."
Dr Sultan Al Jaber
COP28 UAE President-Designate
A 12 month initiative to drive commitment and action ahead of COP28
With finance now firmly embedded on the COP agenda we are building upon our recent successes to ensure the finance sector takes decisive action ahead of COP28. Our Path to COP28 campaign seeks to encourage and support financial institutions to a just transition from commitment to implementation, measurement and reporting.
Through our 12 year+ expertise in ethical finance, established platforms and projects, GCC knowledge and strong global network our Path to COP28 campaign brings together stakeholders from across finance and beyond to drive climate action before, during and after COP28. GEFI’s Path to COP28 campaign is the first finance-focused campaign for COP28, and we are committed to making finance work for COP28, and COP28 work for finance.

“The Path to COP28 is inclusive global campaign open to all and we invite financial institutions and financial services stakeholders from across the globe to get involved.”
Dame Susan Rice
Chair, Global Steering Group
Global Ethical Finance Initiative
Activities and Events
The Path to COP28 launched in Dubai October 2022. The 12-month programme, initiated with our partners DIFC will include a range of activities and events under each of our four core workstreams.

Delivering Net Zero
- The Path to COP28 campaign is working with pension providers, banks, governments, family offices and sovereign wealth funds to increase awareness and engagement around the just transition to Net Zero.
Financing Nature & Biodiversity
- Partnering, in particular with UNDP, to deliver on nature and biodiversity thought leadership, TNFD and TCFD insight and perspectives from private sector investment.

Unlocking Islamic Finance
- Raising awareness amongst global Islamic finance institutions, positioning green and sustainable sukuk as innovative financial instruments, encouraging Islamic finance institutions to engage with global and encouraging initiatives such as PRI and UN PRB.

SDG Investing
- Promoting SDG linked financial product to attract new funds, facilitating the development of innovative financial products that are SDG aligned, and publishing thought-leadership articles that challenge the sector to become better aligned with the UNSDGs.
Our Event Timeline
Over 20 high profile events building towards COP28
Featured Event:

Path to COP28 Sustainable Finance Summit 2
7th June 2023, 09:00-11:15am (GST), DIFC, Dubai
As part of our ongoing partnership with DIFC, we will be hosting a series of summits on sustainable finance, driving capital towards the SDGs and a successful COP28.

Upcoming Events:

UN PRB Roundtable
6th June 2023, 09:00-10:30 (GST), PwC, Emaar Square, Building 5, Dubai
Working with the banking community the UN PRB seek to accelerate a positive global transition for people and the planet. With over 300 signatory banks representing almost half of the global banking industry, the Principles are the world’s foremost sustainable banking framework. We are convening a high level roundtable discussion by invitation to explore the future of banking and the implications of this work for COP28.

PRI Roundtable
6th June 2023, 12:30-14:00 (GST), PwC, Emaar Square, Building 5, Dubai
The PRI work to achieve a sustainable global financial system by encouraging adoption of the Principles and collaboration on their implementation; by fostering good governance, integrity and accountability; and by addressing obstacles to a sustainable financial system that lie within market practices, structures and regulation. we are convening a high level roundtable to discuss this work and the implications for COP28.

As part of our ongoing partnership with DIFC, we will be hosting a series of summits on sustainable finance, driving capital towards the SDGs and a successful COP28


Just Transition Roundtable
7th June 2023, 12.30-14:00 (GST), DIFC, Dubai
The Just Transition is a comprehensive approach that aims to address the social, economic, and environmental impacts of transitioning from a fossil-fuel-based economy to a sustainable and renewable energy future. It recognises that this transition can have significant implications for workers, communities, and vulnerable populations, and seeks to ensure that the shift is fair, inclusive, and equitable. GEFI are convening a high level roundtable by invitation only, exploring the latest thought leadership in this important sphere of work.

In this Climate Finance Training Series, offered jointly by DIFC Academy and the Global Ethical Finance Initiative (GEFI) as part of the Path to COP28 campaign, we will help finance practitioners to understand the COP process, global trends in climate finance and best practice approaches to developing and implementing net zero strategies.

Islamic Finance Roundtable
8th June 2023, 13.00-14.15 GST, DIFC Precinct, Building 1 (Standard Chartered Building), Level 5 - S&P Global Offices, Dubai
Since its inception in the 1970s, the faith-based Islamic finance industry has grown to almost $3 trillion globally, and its focus on tangible assets offers strong potential to support climate action. Addressing the climate emergency will require all the funding possible from as many diverse sources as possible. Islamic climate finance instruments could help in Asia and in many other parts of the world. Global Ethical Finance Initiative, in partnership with the UKIFC, will be convening an Islamic Finance power round table to explore the opportunities COP28 presents to drive action in the sector. This will include insights from UKIFC / GEFI’s Tayyib (Islamic ESG framework) project, green sukuk opportunities, Islamic Financial Institution engagement in global initiatives and frameworks and approaches to climate finance.

Our annual in-person summit Ethical Finance Global 2023 will tackle these issues and more on Wednesday 20th September 2023 in Edinburgh, hosted by NatWest Group. Across four core thematics of climate, nature, the S in ESG and leadership the summit will explore topics including overcoming greenwashing, climate justice, embedding sustainability skills, integrating nature, sustainable food systems and the incorporation of human rights.
COP28 is the 28th session of the Conference of Parties. COP is held every year to discuss and find solutions for climate change. COP28 will be held in the UAE at Dubai Expo City from November 30 to December 12, 2023. The thirteen-day long programme will begin on Thursday and conclude on Tuesday.
The summit will include a mixture of high-level discussion panels and keynotes of SDGs in action with Islamic finance. The summit will highlight some of the operational, regulatory and commercial opportunities and challenges for the Islamic finance sector in engaging with the global ESG/sustainability movement.
Completed Events:
At our launch event, we announced our four Workstreams (Delivering Net Zero, Financing Nature & BioDiversity, Unlocking Islamic Finance, and Financing the SDGs) and hosted discussions including a keynote address by Dame Susan Rice looking at how COP26 went for banking, and guidance to be offered to the banking sector. The event featured speakers including Dame Susan Rice (Financial Services Culture Board & GEFI), Arif Amiri (DIFC Authority), Dr. Abdelilah Belatik (CIBAFI) and Iqbal Khan (Fajr Capital).
COP27 is upon us. The first day saw UN Secretary General Antonio Guterres warn the world that “we are fighting for our lives and we are losing… we are on a way to climate hell”, setting out the stakes of these talks, in addition to raising the pressing loss and damage issue. GEFI worked with IsDB and CGI to curate events in the Blue Zone with panel discussions exploring unlocking Islamic Finance, and Green Finance for Climate Action.
The Nature for Life Hub was three-day virtual event positioned to build on what was missed at COP27 and what needs to happen at COP15, as world leaders negotiate the Post-2020 Global Biodiversity Framework.

In this Climate Finance Training Series, offered jointly by DIFC Academy and the Global Ethical Finance Initiative (GEFI) as part of the Path to COP28 campaign, we helped finance practitioners to understand the COP process, global trends in climate finance and best practice approaches to developing and implementing net zero strategies.

In this webinar, delivered in collaboration with abrdn, we focused on a brief review of COP27 outcomes and took a look at the actions needed in 2023 ahead of COP28, in particular we tackled the following questions: What are the gaps that need to be addressed to enable capital flows in line with net zero? Is the annual multilateral COP approach working to address climate change with the urgency that is required? What other options do we have? Ultimately, what are the implications for net zero commitments in the finance industry if emissions continue to rise?

GEFI in partnership with DIFC and supported by Refinitiv hosted the Path to COP28 – Sustainable Finance Summit Series. The first in the series took place in Dubai at DIFC. The summit covered what COP28 means for finance, delivering net zero, unlocking Islamic finance and much more.

The Global Ethical Finance Initiative, Refinitiv and the UKIFC convened an “Unlocking Islamic Finance” power roundtable on Tuesday 28th February, hosted by Simmons & Simmons in the DIFC.
The theme of the roundtable was exploring the demand appetite and practical challenges for delivering green Islamic finance products.

As a stakeholder endorser of the UN Principles for Responsible Banking (PRB), the Global Ethical Finance Initiative convened an “PR” power roundtable on Wednesday 1st March February, hosted by EY in the DIFC.
The PRB is a community of global banks working together to accelerate a positive global transition for people and the planet. With over 300 signatory banks representing almost half of the global banking industry, the Principles are the world’s foremost sustainable banking framework. Through the Principles, banks take action to align their core strategy, decision-making, lending and investment with the SDGs, and international agreements such as the Paris Climate Agreement. The PRB includes the Net-Zero Banking Alliance, which is the climate-focused initiative of this global framework.
The theme of the round table was to introduce the PRB and showcase the journey and experience of signatory banks. With COP28 coming to Dubai there is an opportunity for more local banks to learn from peers and expedite climate action by engaging in global initiatives such as the PRB.
In this Climate Finance Training Series, offered jointly by DIFC Academy and the Global Ethical Finance Initiative (GEFI) as part of the Path to COP28 campaign, we helped finance practitioners understand the COP process, global trends in climate finance and best practice approaches to developing and implementing net zero strategies.

Female experts in the field discussed challenges as female leaders and provided guidance for women interested in pursuing a career in finance though interactive in-person sessions.

We were pleased to again partner with the Asian Institute of Chartered Bankers for the virtual Ethical Finance ASEAN 2023 summit, following 2022’s inaugural Ethical Finance ASEAN summit. EF ASEAN 2023 tackled the theme of transition, exploring how financial institutions can support Southeast Asian economies in their transition towards Net Zero.
For those who have endorsed the Path to COP28 campaign, stakeholder meetings will take place on a bi-monthly basis and monthly basis (19th January 2023, 16th March 2023, 11th May 2023, 6th July 2023, 7th September 2023, 5th October 2023, 2nd November 2023).
Launch event
At our launch event, together with DIFC – our host financial centre partner, we announced our four workstreams (Delivering Net Zero, Financing Nature & BioDiversity, Unlocking Islamic Finance, and Financing the SDGs) and hosted discussions including a keynote address by Dame Susan Rice looking at how COP26 went for banking, and guidance to be offered to the banking sector.
The event featured speakers including Dame Susan Rice (Financial Services Culture Board & GEFI), Arif Amiri (DIFC Authority), Dr. Abdelilah Belatik (CIBAFI) and Iqbal Khan (Fajr Capital).
Partnership Activities

As part of our Path to COP28 campaign, we are teaming up with our media partners Asset TV to bring you a short introduction to each of our 4 workstreams. Across Delivering Net Zero, Unlocking Islamic Finance, Financing Nature and Biodiversity and SDG Investing, a series of interviews with leading practitioners will give an insight into what finance can achieve at COP28 in Dubai. Watch the interview on Islamic finance now, and stay tuned for the other workstreams.

As part of our Path to COP28 campaign, GEFI is partnering with the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, which was announced at the Path to COP28 launch event ahead of the United Nations Framework Convention on Climate Change’s 28th Conference of the Parties (COP28) taking place in Dubai.


Islamic Finance and the UN SDGs
Retail banking customer perspectives
The Islamic Finance Council UK (UKIFC), Global Ethical Finance Initiative and Dubai International Finance Centre (DIFC) conducted a pioneering global survey that gauges the understanding and awareness of the United Nations Sustainable Development Goals (UN SDGs) amongst retail consumers of Islamic finance products.


Driving Climate Action in the GCC
Supporting Family Offices, Private Equity Investors and Corporate Groups
By combining the RJF and GEFI teams we provide access to a pool of global practitioners with the knowledge and expertise to deliver world-class advice and support.
Our flexible 7-step approach provides a useful framework to financial institutions to develop and implement a climate / sustainability strategy. It has been designed to enable our team to step in at any given point in our clients’ climate / sustainability journey.



Executive Education
Local delivery with global access; sustainable finance training at the heart of the sector.
In this Climate Finance Training Series, offered jointly by DIFC Academy and the Global Ethical Finance Initiative (GEFI) as part of the Path to COP28 campaign, we will help finance practitioners to understand the COP process, global trends in climate finance and best practice approaches to developing and implementing net zero strategies. Join us for this series as we:


Financing a Sustainable Future
Green and sustainability sukuk report
With our partners the London Stock Exchange Group (LSEG) and the UKIFC, we launched a report on green and sustainability sukuk, examining the potential for Islamic fixed income products to deliver financial returns and impact for the SDGs. The report was presented at the Dubai launch event for GEFI’s Path to COP28 campaign on 24th October.

“ESG + Shariah compliant = Tayyib”
The world's first Islamic ESG framework
GEFI is working with UKIFC to launch the world’s first Islamic ESG framework at COP28 – a framework that practically enables the development of an innovative $1trn Tayyib classified segment of the Islamic finance sector.
The vision is for the Tayyib framework to underpin the development of investment strategies and funds that drive Islamic capital to green / sustainability investments that align with Islamic principles and support the achievement of NDC’s and the broader SDGs alongside widening the market opportunity for Islamic finance.

Become an Endorser
Join the Path to COP28 and demonstrate your commitment to endorsing global climate action, to protecting our planet and to raising awareness of the financial risks and opportunities associated with climate change ahead of COP28 in Dubai and beyond.
Our Path to COP26 campaign was the largest finance campaign for COP and brought together over 60 signatories, including 20 financial institutions representing £2 trillion in assets to drive finance for positive change at COP26.
The campaign was focused around 4 key workstreams:
- Adam Smith at the COP
- Finance for Nature
- Faith in the SDGs
- Net Zero Pensions
This included roundtables, summits, policy papers, issuing guidelines, publications, television articles, frameworks and product launches.
Our Path to COP26 Accomplishments and Activities
Get involved in our Path to COP28
We invite financial institutions and financial services stakeholders to join as a headline partner, strategic partner or endorser. Please click here to review our joining criteria.
Endorser
Informal partnership to promote and, where appropriate, participate in Path to COP28 activities and events
Headline Partner
Primary branding with a comprehensive, mutually agreed programme of activities to run throughout the 12-month initiative.
Strategic Partner
Opportunities such as branding, speaking, partnering on a workstream, collaborating on research projects, reports and accessing the wider GEFI programme.
“The Path to COP28 is inclusive global campaign open to all and we invite financial institutions and financial services stakeholders from across the globe to get involved. Based on our experience from COP26 our partners derived great value from connecting with peers, sharing thought leadership, engaging in our events and being part of an action-oriented community of practitioners.”
Chris Tait, Chief Operating Officer, Global Ethical Finance Initiative
