Latest news with #BlueBond
Arabian Business
08-05-2025
- Business
- Arabian Business
Bonds
The $100 million, 5-year Blue Bond priced at 5.25% coupon rate; Will fund significantly under-funded SDG 14 and SDG 6 of the United Nations
Hi Dubai
25-04-2025
- Business
- Hi Dubai
DP World Sources 65% of Electricity from Renewables in Major Sustainability Push
DP World sourced 65% of its electricity from renewable energy in 2024, underscoring a year of bold environmental strides and sustainable investments by the global logistics giant. The milestone was announced in DP World's newly released Sustainability Report, which details $1.17 billion in green and low-carbon infrastructure projects across its operations. The company also highlighted initiatives in sustainable finance, environmental management, and inclusive growth as key areas of progress. In a landmark move, DP World became the first corporate in Central and Eastern Europe, the Middle East, and Africa to issue a Blue Bond, raising $100 million to fund marine and water-focused sustainability projects. This followed the allocation of $1.17 billion from a $1.5 billion Green Sukuk toward projects including fleet electrification and renewable energy systems. Sultan Ahmed bin Sulayem, Group Chairman and CEO, said the achievements reflect the company's commitment to embedding sustainability into its core operations. 'From electrifying our terminals to pioneering innovative finance tools, we are transforming how global trade is powered,' he stated. The report also revealed a $15.1 million investment in global community initiatives focused on education, skills development, and infrastructure. DP World strengthened its ESG governance by becoming the first company globally to publish a Sustainable Development Impact Disclosure Report across five countries. It also reported improved ESG ratings from agencies such as MSCI and EcoVadis. Developed in line with Global Reporting Initiative (GRI) Standards, the report includes SBTi-validated decarbonisation targets and aligns disclosures with IFRS S2 Climate standards, reinforcing the company's focus on accountability and transparency. News Source: Emirates News Agency
Zawya
31-01-2025
- Business
- Zawya
Middle East's 1st Blue Bond lists on Nasdaq Dubai by DP World under $10bln programme
UAE: Nasdaq Dubai has welcomed the Middle East and North Africa's first corporate Blue Bond listing, of a $100 million by DP World, according to a press release. The listing comes under DP World's $10 billion Global Medium-Term Note Programme, while the bond carries a 5.25% coupon rate and matures in 2029. The issuance achieved a spread of 99.6 basis points (bps) above US Treasuries — the tightest spread ever achieved by DP World in both the bond and Sukuk markets. Issuing this type of bond highlights the region's growing commitment to sustainable finance, with proceeds funding critical projects such as marine transportation, port infrastructure, and water-positive initiatives. The listing also contributes to further enhancing the role of the Dubai International Financial Centre (DIFC) as a hub for sustainable finance. The total value of debt listings on Nasdaq Dubai currently stands at $137 billion, of which $29 billion consists of ESG-linked issuances. The proceeds of this pioneering Blue Bond will be directed toward financing sustainable projects, including marine transportation, port infrastructure enhancements, marine pollution prevention, and nature and water-positive initiatives. With this Blue Bond listing, DP World further cements its position as a leading issuer on Nasdaq Dubai. Currently, DP World and its subsidiaries have 11 debt listings on the exchange, comprising bonds and sukuk, with a combined value of $10 billion. Comments on the Listing Highlighting the listing of the Middle East's first Blue Bond, Group Chairman and CEO of DP World, Sultan Ahmed bin Sulayem, said: "The listing of our first Blue Bond represents a significant step forward in DP World's journey to drive sustainable growth and innovation in the global supply chain.' Bin Sulayem added: 'By directing funds toward critical marine and water-positive initiatives, we not only align with the UN's Sustainable Development Goals but also setting a benchmark for sustainable finance in the region.' The Group Chairman concluded: 'This achievement highlights our commitment to fostering economic growth while safeguarding the marine ecosystems that are vital to global trade and future generations." Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said: "Nasdaq Dubai is proud to support pioneering ESG-linked issuances such as DP World's first Blue Bond in the region.' Al Fahim noted: 'The exchange remains committed to supporting issuers as they drive impactful, ESG-focused financing that contribute to long-term environmental and economic prosperity." Meanwhile, Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: 'This listing marks a significant milestone in the region's sustainable finance landscape, as DP World's Blue Bond sets a precedent for innovative ESG-linked issuances in the Middle East.' Ali added: 'At Nasdaq Dubai, we are proud to provide a robust platform for issuers like DP World to access global investors and channel funding toward impactful, sustainable initiatives. This achievement underscores our ongoing commitment to advancing Dubai's position as a hub for ESG finance and innovation.' Chief Executive of the Dubai Financial Services Authority (DFSA), Ian Johnston, commented: 'Nasdaq Dubai's listing of DP World's Blue Bond underscores the growing momentum toward responsible investing and the critical role of financial innovation in addressing climate challenges.' Johnston concluded: 'As the regulator of the DIFC, we remain committed to supporting initiatives that enhance transparency and enable investors to make informed, impact-driven decisions, whilst helping to further solidify Dubai's position as a leading hub for green and sustainable finance.'
