Registrations fees waived for firms listing green, sustainability-linked bonds, sukuk in 2023: SCA

Registrations fees waived for firms listing green, sustainability-linked bonds, sukuk in 2023: SCA

ABU DHABI: The Securities and Commodities Authority (SCA) Board of Directors has approved, during its meeting chaired by Mohamed Ali Al Shorafa, a proposal to exempt companies wishing to list their green or sustainability-linked bonds or sukuk in a local market from registration fees for the year 2023.

The decision aims to highlight the actions taken by the UAE in accordance with a clear agenda to achieve the objectives of sustainable development on more than one level, especially with regard to sustainable economic growth.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, said, “The SCA initiative for green and sustainability-linked bonds and sukuk is an excellent initiative that aligns perfectly with the broader COP28 agenda with regards to climate finance. The world as a whole needs to do more to advance sustainability in the financial space that in parallel also helps to contribute to sustainable long term economic growth.”

For his part, Al Shorafa stated, “The decision of Authority’s Board of Directors comes in line with the declaration of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, declaring 2023 as the ‘Year of Sustainability’, and supports the SCA efforts to encourage companies to move towards