Latest news with #ClimateChangeMitigation
Reuters
01-04-2025
- Business
- Reuters
China's to sell first global green sovereign bond on Wednesday
LONDON, April 1 (Reuters) - China is set to finalise its long-awaited debut global green sovereign bond on Wednesday in what is expected to be the first in a series of sales that will expand its footprint in the market at a pivotal time. Having signalled it was ready last month, top Chinese finance ministry officials laid out the details at a meeting with investors in London on Tuesday, where the 6 billion yuan ($825 million) bond is set to be issued on the London Stock Exchange. The green bond market has ballooned to be worth roughly $3 trillion in recent years. China's firms, including state-run ones, have contributed significantly to that growth, but international investors have long been waiting for the government to make its move for years. Chinese Finance Ministry's Director General Yu Hong and his Deputy Director General Xing Chaohong outlined that it would come in two parts - one with a 3-year maturity - or end date - and the second with 5-year maturity. Both will have fixed interest rates. They are expected to be sub 2% although it will depend on demand during the formal sale process which is being overseen by no fewer than eight banks from both China and Europe. A Chinese global bond - one issued in one of the main international finance centres - has long been anticipated given the country's size. China's plan finally emerged earlier this year after British Finance Minister Rachel Reeves met China's Vice Premier He Lifeng in Beijing to discuss "pragmatic co-operation" on financial services, trade, investment and climate issues. China is the world's largest producer of climate-warming greenhouse gases, but has said it wants to bring its carbon dioxide emissions to a peak before 2030 and become carbon neutral by 2060. In February, the finance ministry published its green bond framework, calling it an effort to "attract international funds to support domestic green and low-carbon development." It flagged Climate Change Mitigation, Climate Change Adaptation, Natural Resource Conservation, Pollution Prevention and Control and Biodiversity Conservation as its five key priorities. One investor who attended Tuesday's meeting said some of the details on what exactly the money raised would be used for included the country's electric vehicle charging network and its national parks. ($1 = 7.2697 Chinese yuan renminbi)
Mid East Info
25-02-2025
- Business
- Mid East Info
Dubai Islamic Bank Publishes its First Sustainability-Linked Finance Facilities Financing Framework - Middle East Business News and Information
The first for any Islamic bank globally Showcases the bank's commitment to sustainability Reinforces DIB's alignment with UAE's Net Zero agenda Dubai – February, 2025: Following the country's ambitious climate-positive actions, Dubai Islamic Bank (DIB), the largest Islamic bank in the United Arab Emirates, has announced its inaugural Sustainability-Linked Finance Facilities Financing Framework. This Framework, which is in line with ICMA's SLLBG is the first of its kind to be published by an Islamic bank globally. The Framework provides clear definitions for what qualifies as eligible Sustainability-Linked Finance Facilities (SLF) and will enable DIB to issue instruments with proceeds allocated to finance and/or refinance such SLF Facilities, which contribute to Climate Change Mitigation. To ensure end-to-end credibility and impact in Climate Change Mitigation, the Framework includes predefined Key Performance Indicators and Sustainability Performance Targets aligned with ICMA's SLLBG. Eligible SLF Facilities under the Framework follow LMA's SLLP. Dr. Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank, said: 'Having published our debut Sustainable Finance Framework in 2022, the development of this new Framework is an important step in our ESG journey. The Framework underpins a key pillar in our Sustainability Strategy – 'Finance a Sustainable Future' – and will contribute to the bank's commitment to achieving 15% of our portfolio in Sustainable Finance by 2030.' Dr. Chilwan added: 'Additionally, the Framework will support existing and new customers within and outside the region who are embarking on transforming their current business model into a more sustainable and future-proof one, with clear commitments to environmental and climate-positive impacts over the journey' An allocation and impact report will be published at least annually throughout the lifetime of the Sustainability-Linked Finance instruments. SLF Facilities included in the report will be subject to a Second Party Opinion (SPO) and the report will also receive limited assurance by an independent party. DIB has obtained an SPO from ISS-Corporate (ISS) which assessed the Framework as aligned with ICMA's SLLBG. Standard Chartered Bank supported the development of the Framework as the sole service provider. In addition to this milestone, DIB has also renewed its Asset-Based Sustainable Finance Framework in 2024, which also received a Second Party Opinion from ISS. About Dubai Islamic Bank: Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world's first full service Islamic bank and amongst the largest Islamic banks in the world. With Group assets more than reaching USD90 billion and market capitalization of more than USD 14bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients. In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB's first foray in the Far East, the bank owns a nearly 25% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in 2018 in UAE. In early 2020, DIB completed the acquisition of Noor Bank, which solidifies its position as a leading bank in the global Islamic finance industry. In 2023, DIB entered Turkey through a 20% acquisition of T.O.M. Group which provides digital banking services. DIB is committed to leading the way in sustainable Islamic financing, with a total sustainable sukuk issuances of USD 2.75 billion to date and strategic involvement in green and sustainable capital markets, reflecting the bank's ongoing dedication to ESG principles and a sustainable future. The bank's ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the Best Islamic Bank in various prestigious ceremonies and recognized for its outstanding performance amongst the world's Islamic Banks, marking it a clear indication of the bank's leadership position in the Islamic finance sector.
Zawya
24-02-2025
- Business
- Zawya
Dubai Islamic Bank publishes its first sustainability-linked finance facilities financing framework
RELATED TOPICS ISLAMIC FINANCE RELATED COMPANIES Priority & Platinum Banking DIB Noor Bank Panin Dubai Syariah Bank DIB Important Bank StanChart Tom Group DIB Pakistan Limited DIB Kenya Ltd. Dubai – Following the country's ambitious climate-positive actions, Dubai Islamic Bank (DIB), the largest Islamic bank in the United Arab Emirates, has announced its inaugural Sustainability-Linked Finance Facilities Financing Framework. This Framework, which is in line with ICMA's SLLBG is the first of its kind to be published by an Islamic bank globally. The Framework provides clear definitions for what qualifies as eligible Sustainability-Linked Finance Facilities (SLF) and will enable DIB to issue instruments with proceeds allocated to finance and/or refinance such SLF Facilities, which contribute to Climate Change Mitigation. To ensure end-to-end credibility and impact in Climate Change Mitigation, the Framework includes predefined Key Performance Indicators and Sustainability Performance Targets aligned with ICMA's SLLBG. Eligible SLF Facilities under the Framework follow LMA's SLLP. Dr. Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank, said: "Having published our debut Sustainable Finance Framework in 2022, the development of this new Framework is an important step in our ESG journey. The Framework underpins a key pillar in our Sustainability Strategy – 'Finance a Sustainable Future' – and will contribute to the bank's commitment to achieving 15% of our portfolio in Sustainable Finance by 2030.' Dr. Chilwan added: 'Additionally, the Framework will support existing and new customers within and outside the region who are embarking on transforming their current business model into a more sustainable and future-proof one, with clear commitments to environmental and climate-positive impacts over the journey' An allocation and impact report will be published at least annually throughout the lifetime of the Sustainability-Linked Finance instruments. SLF Facilities included in the report will be subject to a Second Party Opinion (SPO) and the report will also receive limited assurance by an independent party. DIB has obtained an SPO from ISS-Corporate (ISS) which assessed the Framework as aligned with ICMA's SLLBG. Standard Chartered Bank supported the development of the Framework as the sole service provider. In addition to this milestone, DIB has also renewed its Asset-Based Sustainable Finance Framework in 2024, which also received a Second Party Opinion from ISS. About Dubai Islamic Bank: Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world's first full service Islamic bank and amongst the largest Islamic banks in the world. With Group assets more than reaching USD90 billion and market capitalization of more than USD 14bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients. In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB's first foray in the Far East, the bank owns a nearly 25% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in 2018 in UAE. In early 2020, DIB completed the acquisition of Noor Bank, which solidifies its position as a leading bank in the global Islamic finance industry. In 2023, DIB entered Turkey through a 20% acquisition of T.O.M. Group which provides digital banking services. DIB is committed to leading the way in sustainable Islamic financing, with a total sustainable sukuk issuances of USD 2.75 billion to date and strategic involvement in green and sustainable capital markets, reflecting the bank's ongoing dedication to ESG principles and a sustainable future. The bank's ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the Best Islamic Bank in various prestigious ceremonies and recognized for its outstanding performance amongst the world's Islamic Banks, marking it a clear indication of the bank's leadership position in the Islamic finance sector. For more information, please visit us at Please follow us on DIB's social channels: For more PR information, please contact: Dubai Islamic Bank Kashif Moosa Head of Investor Relations & Strategic Communication Email: kmoosa@ Weber Shandwick Tameem Alkintar Account Director Email: TAlkintar@
Al Bawaba
24-02-2025
- Business
- Al Bawaba
Dubai Islamic Bank Publishes its First Sustainability-Linked Finance Facilities Financing Framework
Following the country's ambitious climate-positive actions, Dubai Islamic Bank (DIB), the largest Islamic bank in the United Arab Emirates, has announced its inaugural Sustainability-Linked Finance Facilities Financing Framework. This Framework, which is in line with ICMA's SLLBG is the first of its kind to be published by an Islamic bank globally. The Framework provides clear definitions for what qualifies as eligible Sustainability-Linked Finance Facilities (SLF) and will enable DIB to issue instruments with proceeds allocated to finance and/or refinance such SLF Facilities, which contribute to Climate Change Mitigation. To ensure end-to-end credibility and impact in Climate Change Mitigation, the Framework includes predefined Key Performance Indicators and Sustainability Performance Targets aligned with ICMA's SLLBG. Eligible SLF Facilities under the Framework follow LMA's Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank, said: "Having published our debut Sustainable Finance Framework in 2022, the development of this new Framework is an important step in our ESG journey. The Framework underpins a key pillar in our Sustainability Strategy – 'Finance a Sustainable Future' – and will contribute to the bank's commitment to achieving 15% of our portfolio in Sustainable Finance by 2030.'Dr. Chilwan added: 'Additionally, the Framework will support existing and new customers within and outside the region who are embarking on transforming their current business model into a more sustainable and future-proof one, with clear commitments to environmental and climate-positive impacts over the journey'An allocation and impact report will be published at least annually throughout the lifetime of the Sustainability-Linked Finance instruments. SLF Facilities included in the report will be subject to a Second Party Opinion (SPO) and the report will also receive limited assurance by an independent party. DIB has obtained an SPO from ISS-Corporate (ISS) which assessed the Framework as aligned with ICMA's SLLBG. Standard Chartered Bank supported the development of the Framework as the sole service provider. In addition to this milestone, DIB has also renewed its Asset-Based Sustainable Finance Framework in 2024, which also received a Second Party Opinion from ISS. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
