Apicorp launches its inaugural green bond framework

Apicorp launches its inaugural green bond framework

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution focused on the energy sector in the Mena region, has launched its inaugural Green Bond Framework.





The Framework will serve as a means to raise Green Bonds/Sukuk which reinforce the institution’s commitment to projects that are aligned with its recently approved ESG Policy Framework as well as advance the development of the broader sustainable finance market.





In particular, the projects financed, refinanced and/or invested in by Apicorp’s Green Bond/Sukuk are also intended to be aligned with the Sustainable Development Goals (SDGs) and will aim to promote climate mitigation and adaptation, the transition to a circular economy, pollution prevention and control and biodiversity preservation.





Notably, the Green Bond Framework is in alignment with the International Capital Market Association’s (ICMA) Green Bond Principles 2021 (GBP). In addition, the Green Bond Framework enjoys a Second Party Opinion (SPO). V.E’s SPO assesses Apicorp’s Green Bond program “Contribution to Sustainability” and “Expected Impacts” as “Advanced,” along with a “Coherent” classification vis-à-vis Apicorp’s strategic sustainability priorities and sector issues.





Dr Ahmed Ali Attiga, Chief Executive Officer of Apicorp, said: “The energy sector is undergoing an exciting and rapid transition towards a cleaner and more sustainable energy mix. By launching