EMSTEEL launches inaugural Green Finance Framework
By
The Green Finance Framework marks a pivotal step in reinforcing EMSTEEL's commitment to sustainability, the firm explained
EMSTEEL has announced the launch of its inaugural Green Finance Framework, which aims to align the company's financial strategy with its long-term sustainability and decarbonisation objectives.
The framework enables EMSTEEL and its subsidiaries to issue a diverse range of green finance instruments, including green bonds, loans, commercial papers, and medium-term notes (MTNs), across multiple currencies. The proceeds generated from these instruments will be exclusively allocated to finance or refinance eligible green projects that follow stringent environmental criteria, said a statement.
These projects encompass different initiatives, such as, production of low carbon steel and cement, installation of renewable energy systems like solar photovoltaic systems, the adoption of energy efficient technologies, and innovative solutions that drive decarbonisation.
Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL said, 'Our Green Finance Framework is more than a financial tool, it is a strategic lever to accelerate our transition towards a low-carbon future. It reflects our commitment to aligning our fund raising activities with internationally recognised market standards for green financing and channeling funds toward environmentally responsible projects. Through this initiative, we aim to support the decarbonisation of our operations, foster innovation in low-carbon steelmaking and create long-term value for our shareholders, society, and the planet.'
Mark Tonkens, Group Chief Financial Officer added, 'The launch of our Green Finance Framework marks a pivotal step in reinforcing EMSTEEL's commitment to sustainability. Aligning our financial strategy with global green finance standards enables us to secure funding for high-impact projects and positions us as a leader in the region's transition to a low-carbon economy.'
Developed in accordance with internationally recognised best practices, the framework ensures transparent approach to the issuance, management, and reporting of green finance instruments. Moody's Ratings has provided a Second Party Opinion (SPO), awarding the Framework a Sustainability Quality Score of SQS2 (Very Good), enhancing investor confidence in EMSTEEL's sustainability-focused capital strategy.
The framework's development was supported by key partners, including ING as the Lead Sustainability Structuring Bank and First Abu Dhabi Bank (FAB) as the Sustainability Structuring Bank. This collaboration underscores the regional commitment to advancing sustainable finance. The Green Finance Framework is an important component of EMSTEEL's Environmental, Social, and Governance (ESG) strategy. It supports ambitious targets aimed at reducing greenhouse gas emissions by 40% in steel production and 30% in cement production by 2030.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
10 hours ago
- Al Etihad
EMSTEEL hones UAE's next industrial leaders with talent development initiative
13 Aug 2025 00:38 AMEINAH ALZEYOUDI (ABU DHABI)Guided by the UAE's vision for its youth, Abu Dhabi-based manufacturer EMSTEEL is helping shape the future of the industrial sector by investing in the potential of young talents. On International Youth Day, EMSTEEL spoke to Aletihad about the initiatives that have built its strong track record in empowering young Emiratis. 'Through skills training, mentorship, and hands-on experience in engineering and manufacturing, we inspire ambition, build confidence, and open pathways to meaningful careers,' the company its Masaar programme, EMSTEEL has been building a robust talent pipeline for its steel and cement businesses while supporting the country's Emiratisation goals. About 180 Emiratis have enrolled since the initiative's launch in the past six years, EMSTEEL has been equipping fresh graduates with the skills required in advancing the UAE's industrial sector. 'Our youth upskilling programmes cover a broad range of essential areas, including technical and industrial expertise, health and safety protocols, and behavioural skills,' the company goal, it added, is to 'empower the next generation to become innovators, leaders, and builders of a stronger, more resilient society'.In 2024 alone, EMSTEEL welcomed 153 new graduate trainees, demonstrating its continued dedication to fostering the growth of the nation's talent.'We recently announced the successful graduation of 62 Emirati trainees (49 men and 13 women) from the company's flagship talent-development programme, marking the first cohort to complete the newly revamped one-year 'accelerated' track introduced in 2024,' it said. Initiatives like EMSTEEL's Masaar talent development programme highlight how the UAE's confidence in its youth extends across sectors and industries. Source: Aletihad - Abu Dhabi
Gulf Today
18 hours ago
- Gulf Today
EMSTEEL earns ResponsibleSteel certification
EMSTEEL, one of the largest publicly traded steel and building materials manufacturers in the region, announced today its steel business unit (Emirates Steel Industries, part of EMSTEEL Group) has officially become the first company in the Middle East and North Africa (Mena) region to receive ResponsibleSteel Core Site certification. The ResponsibleSteel certification was awarded following an extensive audit conducted by CARES, an internationally recognised certification body. The assessment rigorously evaluated Emirates Steel Industries part of EMSTEEL Group's performance, against a comprehensive set of environmental, social, and governance (ESG) criteria, reflecting the highest standards of ethical business conduct and environmental responsibility. This certification follows another major recognition, as EMSTEEL was recently named a 2025 Steel Sustainability Champion by the World Steel Association (worldsteel), becoming the only company in the Mena region to earn this prestigious distinction for the second consecutive year. Together, these accolades reflect EMSTEEL's consistent leadership and concrete action in advancing sustainable steel practices. Engineer Saeed Ghumran Al Remeithi, Group Chief Executive Officer of EMSTEEL, said, 'Achieving the ResponsibleSteel certification is a proud milestone for us and is a testament to our relentless commitment to sustainability, innovation and responsible growth.' 'As the first company in the Mena region to meet this global benchmark, we're proud to continue driving national advanced manufacturing goals, while setting industry benchmarks for decarbonising the steel value chain.' Annie Heaton, Chief Executive Officer of ResponsibleSteel, said, 'The certification of EMSTEEL marks the arrival of ResponsibleSteel certification in the Mena region and sets an important benchmark for the region's steel industry. WAM
Zawya
19 hours ago
- Zawya
EMSTEEL becomes first company in MENA to earn global ResponsibleSteel™ Certification
ResponsibleSteel™ is the steel industry's first global multi-stakeholder standard and certification initiative Abu Dhabi, United Arab Emirates: EMSTEEL (ADX: EMSTEEL) ('the Group'), one of the largest publicly traded steel and building materials manufacturers in the region, announced today its steel business unit (Emirates Steel Industries, part of EMSTEEL Group) has officially become the first company in the Middle East and North Africa (MENA) region to receive ResponsibleSteel™ Core Site Certification. This milestone marks a transformative step for both the company and the region in advancing sustainable, transparent, and low-carbon steel production in line with global standards. The ResponsibleSteel certification was awarded following an extensive audit conducted by CARES, an internationally recognised certification body. The assessment rigorously evaluated Emirates Steel Industries, part of EMSTEEL Group's performance, against a comprehensive set of environmental, social, and governance (ESG) criteria, reflecting the highest standards of ethical business conduct and environmental responsibility. This achievement highlights EMSTEEL's industry leadership and reinforces its role as a catalyst for positive change in the global steel sector. This certification follows another major recognition, as EMSTEEL was recently named a 2025 Steel Sustainability Champion by the World Steel Association (worldsteel), becoming the only company in the MENA region to earn this prestigious distinction for the second consecutive year. Together, these accolades reflect EMSTEEL's consistent leadership and concrete action in advancing sustainable steel practices. Engineer Saeed Ghumran Al Remeithi, Group Chief Executive Officer, EMSTEEL, said: 'Achieving the ResponsibleSteel certification is a proud milestone for us and is a testament to our relentless commitment to sustainability, innovation and responsible growth. As the first company in the MENA region to meet this global benchmark, we're proud to continue driving national advanced manufacturing goals, while setting industry benchmarks for decarbonising the steel value chain.' Annie Heaton, Chief Executive Officer of ResponsibleSteel, said: 'The certification of EMSTEEL marks the arrival of ResponsibleSteel certification in the MENA region and sets an important benchmark for the region's steel industry. The site certification recognises EMSTEEL's established governance systems, as well as transparent engagement with a wide range of stakeholders. As a region that plays a growing role in the global steel supply chain, the MENA region is poised to become an important piece of the puzzle in the industry's transition. This certification not only shows that sustainability standards can be applied effectively across different regions but also reflects the sustained progress being made by companies like EMSTEEL. We look forward to continuing our work with EMSTEEL and other regional leaders on the journey to a more responsible steel value chain.' Lee Brankley, Chief Executives Officer of CARES, said: 'EMSTEEL has demonstrated exceptional leadership in meeting ResponsibleSteel's rigorous ESG standards. We commend their proactive approach and commitment to continuous improvement. As the first MENA-based company to receive ResponsibleSteel™ certification, EMSTEEL is setting a new benchmark for the region and reaffirming its role as a leader in responsible industry transformation. This achievement not only strengthens EMSTEEL's position on the global stage but also contributes to the UAE's broader vision for sustainable economic development and climate action.' ResponsibleSteel is the steel industry's first global multi-stakeholder standard and certification initiative. It works with steel producers, consumers, and intermediaries to build a sustainable steel industry by addressing key challenges such as responsible sourcing, climate change, diversity, human rights, and environmental stewardship, among other critical initiatives. About EMSTEEL EMSTEEL is a public joint stock company (ADX: EMSTEEL) and the UAE's largest steel and building materials manufacturer. The Group leverages cutting-edge technologies to supply both the local market and over 70 international markets with high-quality finished products, creating a one-stop shop for the manufacturing and construction sectors. EMSTEEL is committed to contributing to the UAE's industrial strategy 'Operation 300 billion' by delivering market-leading products to support local industries, creating job opportunities for UAE Nationals, and enhancing its sustainable practices. The Group is a global leader in low-carbon steel production and is aligned with the UAE's Net Zero by 2050 Strategic Initiative. Headquartered in Abu Dhabi, EMSTEEL operates 16 state-of-the-art plants, with a production capacity of 3.5 million tonnes of steel and 4.6 million tonnes of cement annually, fuelling the nation's most iconic projects. EMSTEEL is majority owned by ADQ, an active sovereign investor with a focus on critical infrastructure and supply chains.
