Dubai as a leading financial hub is old news, but the Dubai Sustainable Finance Working Group published two new guidelines to make this news fresh and sustainable. Launched at the Dubai Sustainable Finance Webinar, the Dubai Sustainable Issuance Guide is part of Dubai’s effort to accelerate its leading position and expansion of Environmental, Social, and Governance (ESG) and sustainable finance in the UAE and the broader region. It aims to inform issuers and investors on the best practices amidst the rapidly expanding ESG sector and the commercial opportunities.
The newly launched guide consists of the detailed steps involving the issuance of SG bonds, Sukuk, equities, and other financial products. It outlines the need for companies to develop a sustainability strategy. As per DIFC CEO, Arif Amiri, these steps are shaping the future of finance.
“DIFC and its clients lead the way on sustainable finance in the region and ESG principles are considered in over 60 per cent of their financing and business decisions. Our enabling platform sees bankers, advisors and professional services firms collaborating on preparing regional and global deals, as well as issuances that have sustainable principles at their core. Our vast community of over 200 wealth and asset management firms are also able to change the market by offering investments that deliver social and environmental impacts as well as a financial return.” Arif Amiri said.
The Sustainable Issuance Guide has the best feature of increasing ESG opportunities for investors as companies and the financial market’s pivot towards integrating sustainability into their mainstream activities. It can also stimulate further progress relating to sustainable finance and reinforce Dubai’s position as the region’s most sustainable financial hub made possible with two guides, as per Arif Amiri.
Another leader in the region, Hassan Al Serkal, CEO of DFM, said, “The DFM is constantly striving to become the region’s leading sustainable financial market by 2025. We work with leading institutions and Dubai’s broader financial sector to promote the best practices of ESG and sustainability. The various initiatives of the working group as well as the individual measures of the founding members are in line with Dubai’s urge for sustainability.”
“As the international exchange in the region, Nasdaq Dubai is the most prominent exchange for green, sustainability and ESG issuances and listings in this part of the world, totalling $7.75 billion from nine Sukuk and conventional bonds. We are striving to further advance our regulations and infrastructure to accommodate the growing demand from issuers and investors for ESG and sustainability-related issuances,” he added.
All these efforts in guidelines made by Dubai Sustainable Finance Working Group are made possible with the following companies included like Aramex, Dubai Electricity and Water Authority, Dubai Islamic Economy Development Centre, DIFC, Dubai Islamic Bank, DFM, DP World, Emirates NBD, Emirates National Oil Company, Hawkamah, HSBC, Majid Al Futtaim, Nasdaq Dubai, Societe Generale, Standard Chartered, and Zurich.