Dubai, 22 November 2024: The Ministry of Finance (MoF) has launched the "Financial Sustainability Standards Guide in the Federal Government" during a meeting held at the Sustainability and Innovation Centre in Dubai, attended by representatives from various ministry departments and federal entities.
The project aims to embed the concept of financial sustainability within the government sector and enhance public financial operations in line with the UAE's forward-looking vision for achieving sustainable development.
The guide covers the fundamental concepts and standards of government financial sustainability and their significance, while also showcasing global best practices in this domain. This initiative reflects the UAE's commitment to fostering sustainable development across all fields. Through enhancing financial sustainability, the government seeks to ensure the long-term stability of financial resources.
H.E. Mariam Mohamed Al Amiri, Assistant Undersecretary of the Government Financial Management Sector at the Ministry of Finance, stated: “The Financial Sustainability Standards Guide in the Federal Government represents a qualitative leap in our journey and efforts to achieve sustainable development. This comprehensive guide aims to provide an integrated framework for government entities, enabling them to make financial decisions that enhance transparency and efficiency in resource management. These efforts will support the resilience of our national economy and ensure sustainable development for future generations.”
The agenda for the launch of the Financial Sustainability Standards Guide included discussions on five key themes: "Embracing Sustainability: An Enduring Imperative for the UAE"; "Sustainability Frameworks and Initiatives in the UAE"; "The Importance of Sustainability in Government Finance and Operations"; "Overview of How to Develop Sustainability Guidelines"; "Integrating Sustainability into Functional Areas: Challenges and Opportunities" and "Action Planning for Sustainability: Next Steps."
The meeting concluded with a tour of the Sustainability and Innovation Centre, showcasing the latest advancements in sustainable practices and technologies.
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