UAE debuts green bond and sukuk program development report at COP27

UAE debuts green bond and sukuk program development report at COP27

- UAE’s green bonds and sukuk market valued at US$17 billion

Sharm El Sheikh-Egypt:– As part of its participation in the 27th UN Climate Change Conference (COP27), held in the Egyptian city of Sharm El Sheikh, the UAE Ministry of Climate Change and Environment (MOCCAE) co-hosted a fireside chat on the UAE Green Bond and Sukuk Program with the Global Green Growth Institute (GGGI).

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

The discussion was headlined by His Excellency Essa Al Hashmi, Assistant Undersecretary, 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).

His Excellency said: “Innovative financing solutions are key enablers of our efforts to promote the adoption of sustainable practices across all sectors with the aim of achieving national climate goals and accelerating our transition to a low-carbon economy. Therefore, 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