Tabreed launches UAE carbon-neutral financing funds – Construction Week Online

Tabreed launches UAE carbon-neutral financing funds – Construction Week Online

Tabreed, National Central Cooling Company PJSC, announced the publication of a Green Financing Framework, helping the company meet its commitments and finance new projects to support its business strategy and vision.

The framework enables the company 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.

The 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 utilise 50% less power than conventional cooling while providing an essential service in the GCC and wider region.