{"id":75461,"date":"2023-01-05T01:51:43","date_gmt":"2023-01-05T01:51:43","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/"},"modified":"2023-01-05T01:51:43","modified_gmt":"2023-01-05T01:51:43","slug":"gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/","title":{"rendered":"GCC\u2019s green bonds and sukuks had a better 2022 than we thought"},"content":{"rendered":"

<\/a> GCC green and sustainable bond and sukuk issuances saw massive growth in<\/strong> volume and value last year<\/strong>, with some USD 8.5 bn raised from 15 issuances \u2014 a sizable increase from the USD 605 mn raised from six issuances in 2021, according to data from Bloomberg\u2019s Capital Markets League Tables picked up by Zawya<\/a>. The Bloomberg data isn\u2019t publicly available.<\/p>\n

Saudi Arabia came in hot \u2014 and the UAE wasn\u2019t far behind: <\/strong>KSA was the region\u2019s leading issuer, accounting for over 50% of total issuance volumes, with the remainder coming out of the UAE. In 2021, all GCC green and sustainable bond and sukuk issuances came from the UAE, Zawya cites Bloomberg data showing.<\/p>\n

Who were the big players? <\/strong>First Abu Dhabi Bank (FAB) played a leading role in the region, raising some USD 1.49 bn through three green bond issuances, Zawya notes. Also name-checked were the GCC\u2019s major debut issuances: A USD 3 bn green bond issuance by Saudi Arabia\u2019s Public Investment Fund (PIF)<\/a>, a USD 750 mn sustainable sukuk issuance by Dubai Islamic Bank (DIB)<\/a>, a USD 750 mn sustainable sukuk by Saudi National Bank (SNB)<\/a> and a USD 500 mn green bond by Abu Dhabi Commercial Bank (ADCB)<\/a>.<\/p>\n

All this growth despite a year of volatility:<\/strong> As we noted in our Year in Review on climate finance<\/a>, MENA green bonds and sukuk had a good year \u2014 despite global bond market volatility. Globally, sales of new green and sustainable bonds and sukuk decreased 14% y-o-y in 2022, falling to USD 635 bn \u2014 in part, off the back of rising interest rates and overall volatility, according to the Bloomberg data.<\/p>\n

And there\u2019s more to come: <\/strong>As we noted yesterday<\/a>, we can expect the boom to continue in 2023 as last year\u2019s major debut issuances \u201csuggest sustainable finance is continuing to enter the mainstream in the region,\u201d Zawya quotes Venty Mulani, Bloomberg LP data specialist in sustainable fixed income as saying.<\/p>\n","protected":false},"excerpt":{"rendered":"

GCC green and sustainable bond and sukuk issuances saw massive growth in volume and value last year, with some USD 8.5 bn raised from 15 issuances \u2014 a sizable increase from the USD 605 mn raised from six issuances in 2021, according to data from Bloomberg\u2019s Capital Markets League Tables picked up by Zawya. The […]<\/p>\n","protected":false},"author":1,"featured_media":75462,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1420],"tags":[266,638,11,472,49,164,153,293,1419],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-bonds","tag-adcb","tag-dubai-islamic-bank","tag-enterpriseclimate","tag-first-abu-dhabi-bank","tag-green-bonds","tag-green-finance","tag-green-sukuk","tag-pif","tag-saudi-national-bank","wpautop","entry"],"acf":{"mongo_id":"c04f04ba-c8db-4d74-95c8-ce792db263f7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/1457.jpg","photo_position":"above","related_issue":[75454],"teaser":"","voice_url":""},"yoast_head":"\nGCC\u2019s green bonds and sukuks had a better 2022 than we thought - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GCC\u2019s green bonds and sukuks had a better 2022 than we thought\" \/>\n<meta property=\"og:description\" content=\"GCC green and sustainable bond and sukuk issuances saw massive growth in volume and value last year, with some USD 8.5 bn raised from 15 issuances \u2014 a sizable increase from the USD 605 mn raised from six issuances in 2021, according to data from Bloomberg\u2019s Capital Markets League Tables picked up by Zawya. 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