Green Bonds Are Flourishing in the World’s Hydrocarbon Hub
- Saudi Electricity Co., QNB debut with $2 billion of green debt
- Not every investor is convinced the bonds go beyond PR
In the Gulf, a decline oil prices fueled by the coronavirus pandemic served as a reminder of why nations need to diversify their economies.
Source: AFP via Getty Images
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In a region known for oil wells, tankers and sprawling natural-gas plants, green bonds might raise some eyebrows.
But when Saudi Electricity Co. and Qatar National Bank sold notes this month designed to fund projects including environmentally friendly buildings, smart meters and infrastructure for distributing renewable power, investors piled in.