Middle East recorded $16.7 billion in sustainable bond issuances in Jan-Sep 2024: SandP Global Ratings

ABU DHABI: Standard and Poor's (SandP) Global Ratings has reported that sustainable bond issuances in the Middle East reached approximately US$16.7 billion in the first nine months of 2024. According to its latest report titled 'Sustainability Insights: Middle East Sustainable Bond Issuance Trends' published today, there was an 18 percent decline in sustainable bond issuance over the first nine months of this year compared to the same period last year. SandP attributes this reduction to the need for accelerated implementation of net-zero policies, which could stimulate further issuance despite existing government initiatives and an increasing alignment with sustainability regulations. The report anticipates that the UAE and Saudi Arabia will continue to lead the sustainable bond market in the region, even as other Middle Eastern nations show increased activity in this sector. Source: Emirates News Agency