UAE’s green bonds and sukuk market valued at $17 billion – Gulf Today

UAE’s green bonds and sukuk market valued at $17 billion – Gulf Today

Participants during the United Nations Climate Change Conference.

As part of its participation in the 27th United Nations Climate Change Conference (COP27), held in the Egyptian resort 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 Programme with the Global Green Growth Institute (GGGI).

Over the past years, the total value of the domestic market for green sukuk, bonds, and loans has reached nearly $17 billion. While in 2020, the size of the global market for green sukuk was estimated at $1 trillion.

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 Essa Al Hashmi, Assistant Under-Secretary, Sustainable Communities Sector-ministry