Tabreed creates ‘Green Financing Framework’ to finance projects

Tabreed creates ‘Green Financing Framework’ to finance projects

UAE-based international district cooling developer, National Central Cooling Company (Tabreed) has created a Green Financing Framework that will help it to meet its commitments and finance new projects to support its business strategy and vision.

The framework enables Tabreed to issue green bonds and loans, with the resulting net proceeds to be used for financing eligible green projects which include its core business of constructing, acquiring and operating District Cooling schemes, as well as projects related to energy and water efficiency and wastewater management.

Tabreed’s framework is accompanied by a Second Party Opinion from Sustainalytics, a leading, global ESG ratings agency. This framework and Second Party Opinion demonstrate the sustainable nature of Tabreed’s District Cooling operations, which utilize 50 percent less power than conventional cooling while providing an essential service in the GCC and wider region.

Adel Salem Al Wahedi

CFO – Tabreed “We are convinced that this will align our operations with the United Nations’ and UAE’s sustainable development goals. Around the world, governments and public institutions are adopting ambitious sustainability agendas and at Tabreed we are supporting the UAE’s efforts in this regard. Our investors and stakeholders trust us to lead the drive for sustainability in the district cooling and energy sector,