Nasdaq Dubai Welcomes China Construction Bank's $600 Million Green Bond

Nasdaq Dubai Welcomes China Construction Bank's $600 Million Green Bond

By Emirates News Agency, 16 January 2024

Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC Branch).

The green bond issuance targets combating climate change, represents China Construction Bank's significant commitment to sustainable financing and highlights the growing synergy in green financing between China and UAE.

To mark the issuance, Li Xuhang, Consul-General of the People's Republic of China in Dubai, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), rang the market opening bell at Nasdaq Dubai.

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 US$2.45 billion.

Notably, the cumulative value of outstanding debt from Chinese Issuers on Nasdaq Dubai stands at $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, positioning Nasdaq Dubai as a leading global hub for fixed-income listings and a hotspot for sustainable financial instruments.

Xuhang highly appraised the remarkable performance of Chinese banking institutions in promoting green finance and expressed his expectation on China Construction Bank (DIFC Branch) to keep contributing to energy transformation in the region, supporting green and sustainable development in UAE, Middle East and the World.

Ali, in turn, said, "We are pleased to welcome this green bond listing of China Construction Bank (DIFC Branch) on Nasdaq Dubai. This further strengthens our long-standing relationship, which we have nurtured over the years. 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. We look forward to furthering access to these innovative financial solutions on our platform."

Yuan Shengrui, SEO of China Construction Bank (DIFC Branch) said: "The branch will take the green bond issuance as an opportunity to further boost economy 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. It's also the channel to tell Chinese stories and convey CCB's voice in green finance."

This landmark listing by China Construction Bank (DIFC branch) will leverage the capital market to support symbolic green projects in UAE and the region in sectors of renewable energy, seawater desalination, reduction of greenhouse gas emissions and energy saving.

Rola AlGhoul / Esraa Esmail

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