Awqaf Abu Dhabi outlines vision for transforming food security

Gulf Today, Staff Reporter

Strategic endowment management can serve as a powerful catalyst for addressing food security challenges through sustainable investment and innovation, said Fahad Abdul Qader Al Qassim, Director General of the Endowments and Minors Funds Authority (Awqaf Abu Dhabi).

Delivering the keynote address at the inaugural Global Food Security Summit during Abu Dhabi Global Food Security Week, Al Qassim showcased how Awqaf Abu Dhabi's successful endowment model, such as through its Dh1 billion healthcare endowment initiative, can be adapted to address global food security challenges.

Speaking on "Endowments as Catalysts: Economic Strategies for Advancing Food Security," Al Qassim highlighted that between 713 and 757 million people faced hunger in 2023, representing one in eleven people globally and one in five in Africa.

Al Qassim observed that hosting the Global Food Security Summit in Abu Dhabi “is a strong testament to the role of Abu Dhabi and the UAE as a global convener of ideas to drive actionable solutions that help address the challenges humanity faces, particularly food insecurity.”

He said that as one of the region's leading endowment institutions managing a substantial portfolio through an internal investment arm, Awqaf Abu Dhabi follows a disciplined approach balancing robust returns with prudent risk management across diverse investment streams. “This model has consistently delivered strong financial performance while safeguarding endowment assets.”

Al Qassim stressed Awqaf Abu Dhabi's commitment to leveraging endowments for social and economic impact, such as food security challenges. The organization aims to support various initiatives, that are aligned with the UAE's National Food Security Strategy 2051.

Al Qassim outlined the need for four key commitments to promote global food security. These include doubling agricultural research investment over the next decade; fostering public-private partnerships for innovation; developing sustainable agricultural policy frameworks; and promoting knowledge sharing between developed and developing nations

Al Qassim said that Awqaf Abu Dhabi established under the visionary leadership of UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, and operating under the Executive Council of the Emirate of Abu Dhabi, operates as per the principles of the circular economy, emphasizing sustainability and resource efficiency. Through strategic investments, Awqaf Abu Dhabi continues to make significant contributions to Abu Dhabi's non-oil GDP, aligning with the nation's economic diversification goals and vision for sustainable growth.

"We're considering applying our expertise to establish endowment focusing on the food security supply chain” he added.

With an extensive portfolio of assets under management, including a robust portfolio of income generating assets, Awqaf Abu Dhabi follow the highest standards in wealth management practices and also develops programmes aimed at empowering the beneficiaries of the Endowment through educational scholarships, healthcare services, and social welfare initiatives, among others.