China Construction Bank's $600m Green Bond Debuts on Nasdaq Dubai

China Construction Bank, a prominent player in China's banking sector, has successfully listed a $600-million green bond on Nasdaq Dubai through its Dubai International Financial Centre branch.

This strategic move underscores the bank's substantial commitment to sustainable financing and highlights the growing collaboration in green financing between China and the UAE, according to a statement released by the Dubai Media Office on Monday.

The cumulative value of bonds listed on Nasdaq Dubai by China Construction Bank, inclusive of issuances by its Hong Kong and Dubai branches, now totals an impressive $2.45 billion.

In commemoration of this milestone, H.E Li Xuhang, Consul-General of the People’s Republic of China in Dubai, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), jointly rang the market opening bell at Nasdaq Dubai.

Ali expressed, "With this listing, Nasdaq Dubai solidifies its position as a global leader in creating an ecosystem that fosters sustainable financing, responding aptly to the growing demand for green financing instruments in the region. We look forward to furthering access to these innovative financial solutions on our platform."

The cumulative value of outstanding debt from Chinese issuers on Nasdaq Dubai now stands at an impressive $11.95 billion, spread across 22 issuances.

This listing significantly contributes to Nasdaq Dubai's total value of environmental, social, and corporate governance (ESG) related issuances, reaching $27.05 billion. It further bolsters the total value of debt listed on the exchange, positioning Nasdaq Dubai as a leading global hub for fixed income listings and a hotspot for sustainable financial instruments, as highlighted in the statement.

The China Construction Bank (DIFC branch) listing aims to leverage the capital market to support symbolic green projects in the UAE and the region, particularly focusing on sectors such as renewable energy, sea water desalination, greenhouse gas emissions reduction, and energy-saving initiatives, the statement added.