Green bond sales surge in UAE before it hosts COP28 summit

Energy transition: People on the observation deck of the Dubai Creek Harbour in the UAE. Issuance in the Gulf States has reached US$14.6bil with the majority coming from borrowers in the UAE. — AP

ABU DHABI: A record amount of green debt has been raised this year by issuers in the United Arab Emirates (UAE) and Saudi Arabia ahead of a major global climate conference starting this week in Dubai.

Issuance in the Gulf States has reached US$14.6bil year-to-date, according to data compiled by Bloomberg, with the majority coming from borrowers in the UAE.