Global financial centers ‘will be greener, digital and inclusive by 2030’

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Thriving financial centers around the world will become greener, digital, inclusive and collaborative by 2030 in response to global macroeconomic challenges that require sustainable financing, according to new research from the Dubai International Financial Centre.

Global financial centers will also play a vital role in attracting and retaining top talent by providing attractive working environments, the emirate’s financial free zone said on Sunday.

This will come in response to pressing challenges such as changing demographics, the need for sustainable financial growth and the fourth industrial revolution, research – produced by DIFC in conjunction with the World Alliance of International Financial Centers (WAIFC) and the Z/Yen Group — found.

The document “contains important recommendations that need to be converted into objectives that will be better achieved through collaboration between financial centers,” said Arif Amiri, Managing Director of the DIFC Authority.

“The integration of the deliverables will enable financial centers to increase their contribution to the global economy, while providing clients with opportunities to innovate, be more inclusive and sustainable.”

“The global financial industry is currently undergoing a wave of dramatic change that began during the 2008 financial crisis,” said Jennifer Reynolds, president of WAIFC.

“Since then, rapid changes in technology, demand for sustainable funding, and the pandemic have continued to drive change. The pace of change will accelerate and financial centers must focus their priorities on becoming green, smart, innovative, customer-centric, digital and inclusive.

More soon …

Updated: July 03, 2022, 09:42

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