Ehsan Razavizadeh’s Post

Highlighting the collaboration behind our latest whitepaper with The Financial Academy | الأكاديمية المالية, our Managing Director, Ehsan Razavizadeh shared – “This whitepaper illustrates how sustainable finance is not merely an aspiration but an actionable framework that can propel Saudi Arabia toward its Vision 2030 objectives. The insights provided will empower financial institutions to align their strategies with the Kingdom’s commitment to a sustainable future.” Read more to explore how ESG standards are driving Saudi Arabia's sustainable economy: https://lnkd.in/dAjzPjkE #Vision2030 #SaudiArabia #Sustainablefinance

Gulf Capital Joins Abu Dhabi Sustainable Finance Declaration, Strengthening Commitment to Green Economy Gulf Capital, one of the leading private equity firms in the Gulf Cooperation Council (GCC), has announced its formal membership in the Abu Dhabi Sustainable Finance Declaration (ADSFD), reinforcing its dedication to sustainable finance and investments in line with the UAE’s Green Economy for Sustainable Development initiative. The ADSFD, a voluntary initiative spearheaded by the Abu Dhabi Global Market (ADGM) with support from the UAE Ministry of Climate Change and Environment, the Central Bank of the UAE, and the Securities and Commodities Authority, serves as a collaborative platform. It unites investors, financial institutions, government agencies, academia, and other stakeholders to […] Read the full story here: https://lnkd.in/d-Xx_tih #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #abudhabi #greeneconomy #gulfcapital #middleeast #sustainable

Seems 2024 will be an eventful year for ESG bond and sukuk markets in the region! Last week, Saudi Arabia published its Green Finance Framework, making it the second GCC sovereign (at the national level) to do so. This strategic move is set to stimulate further public and private investment in climate and environmental initiatives, in alignment with the Circular Carbon Economy approach, underscoring the Kingdom's commitment to environmental stewardship and sustainable development. Earlier this year, Oman published a sustainable finance framework, enabling the Sultanate to issue green, social and sustainable loans, bonds and sukuk covering 14 "use of proceeds" categories. Check out the framework document on National Debt Management Center - NDMC's website: https://lnkd.in/dUakT34X #sustainablefinance #greenbonds #greensukuk #islamicfinance #GCC #KSA https://lnkd.in/dGHQcRSH

Saudi Arabia's Ministry of Finance has launched a Green Finance Framework to drive the nation towards sustainability goals and to achieve net-zero emissions by 2060. The initiative highlights the kingdom's commitment to reducing emissions through a circular carbon economy approach and positioning itself as a leader in Sustainable Finance regionally. To reduce greenhouse gas emissions by 278 million tonnes annually by 2030, aligning with the Paris Agreement, Saudi Arabia is taking significant strides in combating climate change. This objective is achieved through ongoing projects like renewable energy deployment, tree planting initiatives, and carbon capture and storage hubs. The Kingdom's commitment to green initiatives is expected to spur a wave of innovation in the Kingdom, as startups tackle sustainability issues from various angles. Some potential areas where we might see new ventures emerging include greening traditional financial services (e.g., impact investing platforms, green credit scoring and lending), financing for specific sustainability needs (e.g., green Sukuk, regenerative agriculture finance, and circular economy financing), and sustainability risk management. Saudi Arabia's Green Initiative Day solidified its unwavering commitment to sustainability. Public-private collaboration, fueled by the Green Finance Framework, positions the Kingdom as a leader in fostering a thriving green economy with innovative startups paving the way for a cleaner future, regionally and beyond. #finance #SaudiArabia

Egypt’s AAIB issues landmark $500 mln sustainability bond to promote finance ◾ AAIB, established in 1964, is Egypt’s first multinational bank. It offers a wide range of services to retail, corporate, and SME clients across Egypt and the region. ◾ The bond, the first of its kind in Egypt and the largest ever issued by a private bank in Africa, has attracted investments from key international partners, including the IFC, the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII). ◾ IFC is a member of the World Bank Group. It is the largest global development institution focused on the private sector in emerging markets. ◾ The bond proceeds will be allocated to green and sustainable projects in Egypt. Seventy-five percent will go towards green financing initiatives, such as industrial energy efficiency, small-scale renewable energy projects, and green building developments. The remaining 25 percent will support social projects, including inclusive finance and MSME financing. ◾ This move aims to bolster Egypt’s climate commitments and address the growing financial needs of MSMEs, a critical sector for economic development. ◾ This bond issuance supports Egypt’s climate goals, notably the government’s target to reduce greenhouse gas emissions by 37 percent by 2030. The funding will provide businesses with the financial resources needed to reduce emissions and invest in environmentally sustainable practices while expanding access to capital for Egypt’s vital MSME sector. ◾ “This milestone underscores the international financial community’s confidence in AAIB’s financial strength, Egypt’s investment potential, and the broader prospects of the Egyptian economy. This sustainability bond is not just a financial instrument but an integral part of our commitment to integrating sustainability into our core business strategy," stated Tamer Waheed, vice chairman & managing director of AAIB. ◾ “This bond represents a major step forward in enhancing financial inclusion while unlocking the potential of sustainable finance in Egypt. As the largest investor in this groundbreaking bond, IFC is proud to support Egypt’s transition to a greener, more climate-resilient economy while contributing to the country’s climate objectives,” said Sérgio Pimenta, IFC’s vice president for Africa. The source: https://lnkd.in/eh7da6Kn #energyticslimited #sustainabilitybond #AAIB #IFC

Sale of green social, sustainable, and sustainability-linked bonds hit $24 billion in 2023 The Middle East and North Africa (MENA) is a region vulnerable to environmental challenges. OECD data from 2020 shows that since 2012, the region has consistently received between $2 and $3 billion each year in climate finance. Green investments in six major GCC industries could significantly boost the economy. These investments could contribute up to $2 trillion to the cumulative GDP, generate over 1 million jobs, This year, MENA continues to solidify its position in the global green finance market. In January, Oman introduced a sustainable finance framework. March saw the Saudi Ministry of Finance unveil its Green Financing Framework. In May, Fitch Ratings projected that ESG sukuk would exceed $50 billion globally within two years. The end of the first quarter in 2024 marked a significant milestone, with ESG sukuk reaching $40 billion, demonstrating a year-on-year growth of 60.3 percent. There is a lot of money to be made in Green Finance in the MENA region. Climate Finance deployed through Green Bonds has moved into Hyper growth. Local Grown Salads is issuing $100M USD Green Bonds in multiple Jurisdictions.The Green Bonds are expected to be oversubscribed. The Bonds are aligned with the UN SDGs and finance a network of Indoor Vertical Farms. The farms grow the vegetables where they are eaten. The vegetables are pesticide and herbicide free, and the farms create good jobs. Follow #ZaleTalksGreenBonds for more exciting content. 😃

Arab African International Bank, IFC, EBRD, and BII Launch US$500 Million Sustainability Bond to Support Climate Finance and Boost Micro, Small, and Medium-Sized Enterprises Arab African International Bank (AAIB) today issued a $500 million sustainability bond, with investments from IFC, the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII), to advance Egypt’s green transition and micro, small, and medium-sized enterprises (MSMEs). The sustainability bond is the first in Egypt - and the largest issued by a private bank in Africa - and will support green and sustainable projects in Egypt. IFC has subscribed in the bond with US$300 million alongside US$100 million from EBRD and US$100 million from BII – with 75 percent of the bond’s proceeds allocated to green financing, such as industrial energy-efficiency, small-scale renewable energy projects, and green buildings; and 25 percent allocated for social assets including inclusive finance and MSMEs. To support the move to a greener, climate-resilient economy, in 2023 Egypt’s government announced its aim to reduce greenhouse gas emissions by 37 percent by 2030. The sustainability bond will help Egypt advance towards this target by increasing access to finance to businesses and projects that help reduce greenhouse gas emissions or otherwise protect the environment. The bond will also help address the country’s growing financing needs for MSMEs. This achievement underscores the international financial community’s confidence in AAIB’s exceptional financial strength, Egypt’s attractive investment opportunities and the Egyptian economy potential at large said Tamer Waheed, AAIB’s Vice Chairman & Managing Director. “This bond is more than just a financial instrument; It is a strategic extension of our core business model, designed to seamlessly integrate sustainability into our business strategy. We believe that responsible growth is crucial to create a sustainable future for generations to come. We are ensuring that AAIB remains at the forefront of both financial innovation and environmental stewardship by directing capital toward projects that advance ESG.” more details: https://lnkd.in/dJtbgdVK #بايونيرز_مصر Arab African International Bank

Green finance is poised to drive significant economic growth in the GCC, potentially unlocking up to $2 trillion in GDP contribution by 2030, according to a Strategy& report. The report calls for increased capital market openness across GCC countries to accelerate investments in sustainable projects. Within the GCC, the UAE is at the forefront of sustainable finance, setting benchmarks with mandates for ESG reporting and pioneering innovative financial instruments such as sustainability-linked loans and green bonds. At FAB, we're proud to contribute to this movement with milestones such as our inaugural Green Sukuk issuance and the UAE's first social bond. Our introduction of sustainable deposit options for corporate clients underscores our commitment to pioneering sustainable finance solutions.

Green finance surged in the Middle East during 2023, as the region continued to solidify its commitment to sustainable finance. Issuance of green bonds in the Middle East and North Africa skyrocketed in 2023, more than doubling to $15.5 billion, according to a new report by the IFC - International Finance Corporation and Amundi. 

Acceleration of climate finance through Public and Private sector partnerships! “Effective climate finance requires cooperation between the public and private sectors. First Abu Dhabi Bank (FAB), for example, is able to support the UAE’s climate commitments through our partnerships with traditional and emerging sectors. This collaborative approach is essential as the transition to sustainability can pose challenges, especially for hard-to-abate sectors. Full involvement, an innovative approach and a collaborative global focus are necessary if we are to achieve net zero by 2050.” Looking forward to World Future Energy Summit and discussing the role of green finance in the transition to Net Zero. ##sustainability #climatechange #esg #togetherforgreen #togetherforclimate #togetherforaction #cop28 #impactesg #wfes