27 Nov, 2023Nasdaq Dubai Welcomes the Listing of USD 2.03 Billion Green Bonds by Industrial and Commercial Bank of China

• This makes ICBC, the largest Green Bonds issuer on Nasdaq Dubai with a cumulative total of USD 6.93 billion

• The listing includes four issuances from ICBC’s branches in Dubai (DIFC), Hong Kong, Singapore and Luxembourg

• Nasdaq Dubai continues to be the regional leader for innovative and sustainable financing solutions, with Nasdaq Dubai's Green issuances alone accounting for USD 18.55 billion.

 Nasdaq Dubai announces the listing of Green Bonds totaling USD 2.03 billion by Industrial and Commercial Bank of China Limited (ICBC). The listing includes four issuances by ICBC's branches in Dubai (DIFC), Hong Kong, Singapore and Luxembourg.

The listing of ICBC's Green Bonds consolidates its position as the largest issuer of Green Bonds on Nasdaq Dubai with a cumulative total of USD 6.93 billion. In addition, this listing establishes ICBC as the leading Chinese issuer on Nasdaq Dubai, contributing a total of USD 7.43 billion.

To commemorate the successful listing, His Excellency Li Xuhang, Consul General of the People’s Republic of China in Dubai rang the bell at the market-opening ceremony at Nasdaq Dubai in the presence of Luo Wei, General Manager of ICBC Dubai (DIFC) Branch and Nasdaq Dubai and Dubai Financial Market (DFM) management.

Luo Wei, General Manager of ICBC Dubai (DIFC) Branch, said: "The listing of ICBC’s multi-currency Belt and Road green bonds issued by Dubai (DIFC), Hong Kong, Singapore and Luxembourg branch on Nasdaq Dubai shows ICBC’s strong commitment to support sustainable development globally. ICBC has provided substantial contribution to areas such as Belt and Road green loan, green bond underwriting, issuance and investment. With a total listing of USD 6.93 billion of ICBC’s green bonds in the UAE, it demonstrates ICBC’s strategic vision of building a green finance development system."

Hamed Ali, CEO of Nasdaq Dubai and DFM, said: "We are delighted to celebrate the listing of ICBC’s four Green Bond issuances on Nasdaq Dubai. This underscores our position as a leading marketplace for international issuers and highlights the strength and appeal of Dubai's capital markets. It also underscores the rising demand for green financing instruments in the region. Nasdaq Dubai will remain committed to driving the growth of financial markets in the UAE and leading the region's responsible finance initiatives through a wide range of investment products. We wholeheartedly support ICBC in its commitment to sustainable growth."

As of today, Nasdaq Dubai’s ESG classified issuances have reached a significant milestone at USD 26.45 billion, with Nasdaq Dubai's Green issuances alone accounting for USD 18.55 billion. The inclusion of ICBC's Green Bonds significantly elevates Nasdaq Dubai's position as a hub for environmentally conscious financial instruments.