Middle East Issued $16.7 Billion in Sustainable Bonds from January to September 2024: S&P Global Ratings

The S&P Global Ratings report indicates that sustainable bond issuance in the Middle East reached $16.7 billion in the first nine months of 2024, primarily driven by the UAE and Saudi Arabia. This represents an 18% decline from 2023, influenced by rising interest rates and post-COP28 market normalization. Sustainable bonds make up 15%-20% of total bond issuances in the region, which is higher than the global average. While financial institutions dominate the market, corporate issuances fell by 45%. There’s a notable shift towards funding social projects, alongside environmental initiatives. Despite the slowdown, a positive outlook remains for the sustainable bond market as the region enhances ESG transparency and net-zero policies. Resources: https://esgnews.com/middle-east-issued-16-7-billion-in-sustainable-bonds-from-january-to-september-2024-sp-global-ratings/