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The Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, has listed four green bonds worth $2.2 billion on Nasdaq Dubai.
The carbon-neutrality-themed bonds, with tenors of two and three years, were issued by ICBC’s branches in Dubai, Hong Kong, Singapore and Sydney, according to a statement on Tuesday.
The four green notes are denominated in USD, CNH and AUD. Proceeds of the offering will be used to fund green financing in different jurisdictions and operations.
The new issuances raised the total value of ICBC’s bonds listed on Nasdaq Dubai to $6.09 billion and the value of green and sustainability-linked debt issuances on the exchange to $21 billion.
“This listing further underscores the bank’s support for the UAE to host the cOP28 climate summit, as well as uphold the country’s efforts for a net-zero target,” said Luo Wei, General Manager of ICBC Dubai (DIFC) branch.
(Reporting by Cleofe Maceda; editing by Brinda Darasha)
