DUBAI  - Abu Dhabi will host the newly launched Global Climate Finance Centre in partnership with nine founding members including the World Bank, lender HSBC and asset managers BlackRock and Ninety One.

Described as an independent think-tank and research hub, the centre will look at barriers to investment into low-carbon projects and develop the financial frameworks to overcome them.

"It will put Abu Dhabi and the UAE at the forefront of driving global change in sustainable finance, providing a positive legacy for years to come," COP28 President Sultan Al Jaber said in a statement on Monday.

(Reporting by Maha El-Dahan and Simon Jessop; editing by William James)