Nasdaq Dubai has made headlines with its latest announcement: the listing of three Green Bond issuances totaling an impressive US$1.72 billion by the Industrial and Commercial Bank of China Limited (ICBC). This event marks a significant step forward in both environmental finance and international collaboration, emphasizing the growing importance of sustainable investing in today’s financial markets.
What makes these bond issuances noteworthy is that they are aligned with ICBC’s US$20 billion Global Medium Term Note Programme. The bonds have been issued through ICBC’s branches located in three major financial hubs: Dubai (DIFC), Hong Kong, and Singapore. This multi-regional approach not only showcases ICBC’s global reach but also reflects its commitment to fostering sustainable finance across various markets.
The specific bonds listed include:
- ICBC Hong Kong Branch: $1,000,000,000 – Floating Rate Notes due 2028.
- ICBC Singapore Branch: $300,000,000 – 4.125% Notes due 2028.
- ICBC Dubai (DIFC) Branch: CNH3,000,000,000 – 2.00% Notes due 2028.
These issuances not only enhance ICBC’s status as a leading Chinese issuer but also as a predominant RMB-denominated bond issuer on the exchange. The growing portfolio of green bonds supports the urgent need for responsible investments aimed at combating climate change and promoting eco-friendly projects.
To celebrate this achievement, a special market-opening ceremony took place at Nasdaq Dubai, where Zhang Yiming, the Ambassador of the People’s Republic of China to the UAE, had the honor of ringing the bell. The ceremony was attended by prominent figures, including Hamed Ali, the CEO of Nasdaq Dubai and Dubai Financial Market (DFM), and Liu Hua, the General Manager of the ICBC Dubai (DIFC) Branch.
With these latest listings, Nasdaq Dubai has achieved a remarkable total of $136 billion in debt listings, which includes $40 billion in bonds and $17 billion in Green Bonds. The substantial ESG-related issuance portfolio of $29 billion underscores Nasdaq Dubai’s leadership in promoting sustainable finance, a crucial dimension in today’s investment landscape.
Liu Hua shared a significant perspective on the occasion: “The successful listing of ICBC’s multi-currency carbon neutrality-themed green bonds reflects our confidence and commitment to the UAE capital market.” He emphasized ICBC’s efforts in promoting environmental sustainability through green financing, particularly under the framework of the Belt and Road Initiative. With a total of $5.6 billion outstanding bonds in the UAE, ICBC demonstrates its dedication to fostering eco-friendly development on a global scale.
Hamed Ali expressed enthusiasm about welcoming ICBC’s Green Bond listings to Nasdaq Dubai. He highlighted this milestone as a testament to the strength of the partnership between ICBC and Nasdaq Dubai, noting that it exemplifies Dubai’s rising profile as a global hub for sustainable finance. Ali remarked on the importance of creating a transparent, innovative, and efficient marketplace that supports responsible investment in the region and beyond.
