Dubai: China Construction Bank’s Dubai International Financial Centre (DIFC) branch has listed a $600 million green bond on Nasdaq Dubai. The green bond issuance represents the bank’s commitment to sustainable financing and highlights the synergy in green financing between China and UAE, said the Dubai Media Office.
The total value of bonds listed on Nasdaq Dubai by China Construction Bank, comprising the issuances by Hong Kong and Dubai branches, now stands at $2.45 billion. The cumulative value of outstanding debt from Chinese Issuers on Nasdaq Dubai is $11.95 billion through 22 issuances.
This listing brings Nasdaq Dubai’s total value of ESG-related issuances to $27.05 billion and contributes to a total value of debt listed on the exchange totalling $128.66 billion.
Li Xuhang, Consul-General of the People’s Republic of China in Dubai, praised the performance of Chinese banking institutions in promoting green finance and expressed his expectation for China Construction Bank (DIFC Branch) to keep contributing to energy transformation in the region.
Meanwhile, Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said. “With this listing, Nasdaq Dubai solidifies its position as a global leader in creating an ecosystem that fosters sustainable financing and responds aptly to the growing demand for green financing instruments in the region.”
This listing by China Construction Bank expects to leverage the capital market to support green projects in UAE and the region in sectors of renewable energy, seawater desalinisation, reduction of greenhouse gas emissions and energy saving.
Yuan Shengrui, SEO of China Construction Bank’s DIFC Branch, said, “The branch will take the green bond issuance as an opportunity to boost the economy further with high-quality growth and take the capital market as the bridge to support cooperation in green sustainable development and energy transformation between China, UAE and the region.”