DP World issues sea protection blue bonds on Nasdaq Dubai
The $100 million bond issue is aimed at reducing maritime emissions, minimizing environmental damage from ports and restoring ecosystems
A container ship is berthed at DP World's London Gateway port (Getty Images)
In the world of debt finance, blue bonds are an emerging class of securities used to support maritime projects that carry potential environmental benefits.
Nasdaq Dubai announced on Thursday it will host the MENA region’s first blue bond sale as DP World seeks to raise $100 million for its seaports and logistics businesses.
The bond issue is aimed at supporting a range of DP World projects this year, including development of alternative fuels to reduce maritime carbon emissions, upgrading port infrastructure to minimize environmental damage and restoring damaged ecosystems, the company said in a statement.
“As a responsible leader in global trade, we are committed to preserving the ocean’s ability to provide for future generations,” DP World Chairman and CEO Sultan Ahmed bin Sulayem said.
Based at the Dubai International Financial Centre, Nasdaq Dubai already issues green bonds, sustainability bonds and sustainability-linked bonds. The total value of its debt listings is $137 billion, of which $29 billion are linked to ESG – environmental, social, and governance – goals.