Green Bond Sales Surge in UAE Before It Hosts Climate Summit
- Issuance in UAE, Saudi Arabia has jumped to a record this year
- UAE has been trying to improve its environmental credentials
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A record amount of green debt has been raised this year by issuers in the United Arab Emirates and Saudi Arabia ahead of a major global climate conference starting next week in Dubai.
Issuance in the Gulf States has reached $14.6 billion year-to-date, according to data compiled by Bloomberg, with the majority coming from borrowers in the UAE. Another big chunk of the amount is a $5.5 billion multi-tranche bond by Saudi Arabia’s Public Investment Fund in February.