ADCB prices $650mln green bond to support UAE’s net zero transition

Abu Dhabi Commercial Bank (ADCB) said on Wednesday that it has successfully priced a $650 million green bond, the proceeds of which will be used to finance eligible green assets and support the UAE’s net zero transition by 2050.

“ADCB’s second green bond issuance is a significant development in the delivery of our climate strategy,” according to Ala’a Eraiqat, CEO of ADCB Group.

Eraiqat added that as the UAE prepares to host the 2023 United Nations Climate Change Conference (COP28), ADCB stands ready to support customers on their path to success in a net zero economy.

It is worth mentioning that this marks ADCB’s second green bond issuance, building on the success of its inaugural $500 million green bond in September 2022.