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Saudi Arabia Eyes Green Bond in 2022 as Sustainable Debt Soars

A solar plant in Uyayna, north of Riyadh.

A solar plant in Uyayna, north of Riyadh.

Photographer: Fayez Nureldine/AFP/Getty Images

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Saudi Arabia’s government may issue its first green bond next year as the world’s largest oil exporter seeks to diversify its investor base and sources of funding, the head of the kingdom’s debt office said. 

The pledge to tap into a booming global market for sustainable debt comes as the kingdom, built on decades of fossil fuel extraction, seeks to improve its reputation on environmental issues.