UAE-based Masdar’s global portfolio of invested or committed-to-invest clean energy projects stood at more than $30 billion as of the first quarter of 2023, according to the renewable energy company’s Green Finance Framework (GFF) statement.
Combined, these projects have a gross capacity of over 20 gigawatts (GW), capable of displacing up to 30 million tonnes of carbon dioxide emissions per year, the GFF, published last week, said.
It was published with a Sustainability Quality Score of SQS1 (Excellent) – the highest rating – from Moody’s Investors Service, its Second Party Opinion provider.
In a related press statement, Masdar reiterated that it is planning to issue its first green bond in 2023. The announcement was first made by its Chief Executive Officer, Mohamed Jameel Al Ramahi in January 2023 at the Abu Dhabi Sustainable Finance Forum.
“Our Green Finance Framework will guide all future issuances in the loan and debt capital markets, in line with best practices in the sustainable finance industry,” added Niall Hannigan, Chief Financial Officer, Masdar.
(Writing by Anoop Menon; Editing by Bhaskar Raj)