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DP World raises $1.5 billion from Green Sukuk

Nigel Howard/DP World DP World Southampton Straddle Carriers.jpg
DP World has raised $1.5 billion through a Green Sukuk issue to support its global decarbonisation efforts.

The Sukuk, which was oversubscribed due to strong demand from local, regional, and international investors, is listed on both Nasdaq Dubai and the London Stock Exchange.

The proceeds from the Sukuk will be earmarked for eligible green projects in line with DP World’s recently published Sustainable Finance Framework. Current projects cut across electrification, renewable energy, clean transportation, and energy efficiency.

" The price we achieved for this Green Sukuk is phenomenal and represents the confidence investors have in DP World as a company and our commitment to sustainability," said DP World Group Chairman and CEO Sultan Ahmed bin Sulayem.

" Through this issuance we can further align our sustainability strategy, and decarbonisation efforts with the Group’s financing strategy," added Yuvraj Narayan, Group Deputy Chief Executive and Chief Financial Officer.

DP World’s current portfolio of green and sustainable assets is spread throughout the globe and runs through various elements of its diverse multi-functional business, all of which aim to make trade flow sustainably throughout the world.

The Group has included electrified freight transportation and hybrid vessels. Our electrified equipment is testament to strong decarbonisation programme. DP World Group also boasts several green buildings within its portfolio that meet internationally recognised green certification building standards, such as BREEAM and LEED.

Decarbonisation is a core focus for DP World, and the business has already committed to becoming carbon neutral by 2040 and net zero carbon by 2050.