Abu Dhabi Department of Energy Collaborating to Develop Green Bond Hub Programme
The Department of Energy (DoE), ADX and ADGM are working together to jointly develop a Green Bond Hub Programme. This initiative was launched at the ADGM Sustainable Finance Forum by H.E. Eng. Mohamed Bin Jarsh Al Falasi, DoE Undersecretary in January 2020 with the objective of establishing Abu Dhabi as a regional hub for the issuance of green bonds and green sukuk for sustainable projects in the Emirate as well as across the Middle East and Africa. Since launch, DoE has been working with its partners to develop an action plan and stakeholder consultation mapping in order to identify how to drive progress in the green bond market. Given market conditions, DoE is working with small stakeholder groups to compile a ‘green paper’ to make recommendations on developing the Green Bond Hub Programme further. In line with international developments, DoE is considering the role of Transition Bonds, which may be particularly pertinent to the region, as well as the level of investor interest in green bonds in light of the pandemic.
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