COP27: UAE’s green bonds, sukuk market valued at $17 billion

COP27: UAE’s green bonds, sukuk market valued at $17 billion

Ministry announces issue of new report as part of its efforts to support sustainable finance growth

By Wam Published: Thu 10 Nov 2022, 12:00 AM

The UAE Ministry of Climate Change and Environment (MoCCAE) co-hosted a fireside chat on its Green Bond and Sukuk Programme with the Global Green Growth Institute (GGGI) during COP27 in Sharm El-Sheikh, Egypt.

During the session, the Ministry announced the issue of a new situation analysis report of the green bond and sukuk market as part of the UAE's efforts to support the growth of sustainable finance in the country.

The discussion was headlined by Essa Al Hashmi, Assistant Under-Secretary, Sustainable Communities Sector-ministry of Climate Change and Environment, and moderated by Mercedes Vela Monserrate, Head of Sustainable Finance at Abu Dhabi Global Market (ADGM).

Al Hashmi said, “MOCCAE works with its strategic partners to raise awareness among key finance and investment players about the importance of green bonds and sukuk as effective financial instruments to boost sustainability.”

“We are making great strides in developing the sustainable finance sector. The UAE is one of the most active countries in the region in the issuance of green bonds and sukuk, and the UAE Green Bond and Sukuk Programme Development: Situation Analysis Report aspires