Emirates NBD Bank announced yesterday the completion of its first dual tranche sustainable bonds issuance worth $1 billion, under its Euro Medium Term Note (EMTN) program. The issuance includes a blue tranche of $300 million for a three-year tenor and a green tranche of $700 million for a five-year tenor. This issuance is the largest of its kind for blue bonds in the United Arab Emirates and the Gulf Cooperation Council (GCC) region, and also the largest dual tranche blue-green bond issuance by a financial institution globally. In a statement, the bank confirmed its commitment to the United Nations Sustainable Development Goals, directing the proceeds of the issuance to support Goal 14 'Life Below Water' and Goal 13 'Climate Action'. The structure of the dual tranche bonds reflects the Group's innovative approach to sustainable finance, diversifying its investor base, and directing proceeds towards marine environmental protection, sustainable water projects, and green initiatives, in line with Emirates NBD's updated Sustainable Finance Framework, which was revised in November 2025. The issuance garnered strong interest from global investors focused on Environmental, Social, and Governance (ESG) standards, reflecting significant confidence in Emirates NBD's creditworthiness, leading market position, and steadfast commitment to its sustainability program. The deal saw participation from 'T Rowe Price', a global asset management leader and a pioneer in the blue investments market, which subscribed to the blue tranche as part of its commitment to ocean and water-related sustainable finance. This issuance adheres to the best international practices under the International Capital Market Association (ICMA)'s Green Bond Principles and aligns with the emerging guidelines for blue bonds. Ahmed Al Qassim, Head of Group Commercial Banking at Emirates NBD, said: 'This dual tranche blue and green bond issuance underscores the depth and diversity of the sustainable debt markets within the GCC region.' He added: 'We continue to mobilize capital to support and protect our region's environmental priorities, including preserving marine ecosystems, enhancing water consumption efficiency, and accelerating the transition in the energy sector. With the strong investor appetite reflecting growing confidence in our sustainable finance strategy, this deal enhances our pivotal role in driving the UAE's comprehensive sustainability agenda.' Vijay Pinnamaneni, Group Head of Sustainability and ESG at Emirates NBD, said: 'This issuance cements Emirates NBD's position among the pioneering banks in the blue bonds market in the GCC region. We reiterate our commitment to developing innovative sustainable finance instruments and expanding global investors' focused on sustainability and ESG standards, access to the UAE's markets.' Matt Loughton, Head of Impact Investing at 'T Rowe Price', said: 'We are delighted to partner with Emirates NBD on this innovative blue bond transaction, which will help mobilize significant capital to support the blue economy.' He added: 'We believe this transaction will address a key developmental priority and present an opportunity to achieve attractive investment returns. We hope this transaction will support the blue bonds market and set a precedent for future issuances.'
