DP World Issues MENA’s First $100 Million Blue Bond to Fund Ocean Sustainability

DP World has made history by issuing the Middle East and North Africa’s first-ever $100 million Blue Bond, aimed at supporting sustainable initiatives in marine transportation, port infrastructure, pollution control, and marine biodiversity conservation.

The issuance marks a significant step in addressing funding gaps for UN Sustainable Development Goals (SDG) 14 (Life Below Water) and SDG 6 (Clean Water and Sanitation), while meeting growing investor demand for blue assets.

Aligned with DP World’s Ocean Strategy, the Blue Bond reinforces the company’s commitment to a Sustainable Blue Economy. Sultan Ahmed bin Sulayem, DP World’s Group Chairman and CEO, highlighted the company’s dedication to ocean preservation, stating,

“This Blue Bond will lay the foundation for years to come, supporting comprehensive climate and ocean action.”

The Blue Bond also reflects DP World’s enhanced Sustainable Finance Framework, integrating global blue finance guidelines. Eligible projects under this framework include developing sustainable marine transportation, upgrading port infrastructure, restoring marine ecosystems, and tackling marine pollution.

The bond, with a spread of 99.6 basis points above U.S. treasuries, is DP World’s tightest-ever issuance, showcasing its appeal to investors. Rob Sharps, CEO of T. Rowe Price Group, emphasized the significance of this initiative, calling it a model for fostering the blue economy.

This landmark issuance follows DP World’s 2023 $1.5 billion Green Sukuk, which has already funded projects avoiding 177 million kg of CO2 emissions and producing over 866,000 kWh of renewable energy. Together, these efforts underscore DP World’s role in driving sustainable global trade and environmental stewardship.

News Source: Emirates News Agency