Emirates NBD Issues $1 Billion Blue Green Bond to Finance Marine and Energy Transition Projects

Dual issuance includes the UAE and Gulf’s largest blue bond and expands sovereign regional sustainable finance activity
Supports UAE sustainability priorities across marine ecosystems, water efficiency and energy transition
Aligns with global growth in green and blue capital markets, now exceeding $5 trillion annually

Emirates NBD launched its first blue green bond with a $1 billion dual tranche issuance that drew strong interest from international investors and added a new regional scale to marine focused finance.

The bank confirmed the issuance under its Euro Medium Term Note programme with a three year $300 million blue tranche and a five year $700 million green tranche. The lender described the blue tranche as the largest to date in both the UAE and broader Gulf region.

Expanding Market for Blue and Green Capital

Green bonds allocate proceeds to environmentally focused projects, often related to renewable power, energy efficiency or low carbon transport. Blue bonds extend this concept to marine and ocean stewardship and support initiatives ranging from ecosystem protection to sustainable fisheries and coastal resilience. Issuance volumes in both categories continue to grow as global investors seek exposure to transition related assets and as corporate and sovereign issuers pursue lower financing costs for climate aligned portfolios.

Emirates NBD positioned the transaction as part of its broader sustainability strategy and as a tool to address regional environmental priorities. The bank stated that proceeds will channel capital toward conservation of marine ecosystems, improvements in water efficiency and activities linked to the energy transition. These themes fit squarely within the UAE’s own climate policy orientation, which places water security and coastal ecosystems alongside decarbonisation and renewable deployment.

“We continue to mobilise capital to stimulate and safeguard our region’s environmental priorities, including preserving marine ecosystems, promoting more efficient water consumption and accelerating the energy transition,” the bank said. The lender added that the issuance also aligns with the UAE’s wider sustainability agenda.

Global Market Drivers and Competitive Finance Dynamics

The transaction arrives as more corporate issuers integrate environmental, social and governance frameworks into treasury functions and as institutional investors price sustainability linked risk. According to the World Economic Forum, the global green economy has surpassed $5 trillion and could exceed $7 trillion per year by 2030. The WEF noted that green revenue is expanding at twice the pace of conventional revenue on average and that companies participating in green markets often access cheaper capital and benefit from valuation premiums. For issuers, these dynamics reflect both investor appetite for transition exposure and competitive financial advantages associated with lower risk premiums for climate aligned projects.

Emirates NBD referenced similar themes in its 2025 ESG Momentum Report, stating it had made “significant progress in addressing sustainability related risks, seizing emerging opportunities and delivering measurable positive impact.” The report situates the bank within a broader group of regional financial institutions integrating climate risk management and green finance into operational and governance structures.

Implications for C Suite, Sovereigns and Investors

For regional and international investors, the issuance reinforces several market signals. First, blue finance is gaining traction beyond sovereign pilots and early stage development bank structures. Second, Middle Eastern issuers are scaling sustainable debt programmes and linking them to national transition plans and economic diversification strategies. Third, the geography of sustainable finance is broadening, providing institutional investors with additional currency, maturity and issuer diversification in transition related holdings.

For corporates and financial institutions, the issuance highlights a competitive landscape in which capital allocation toward environmental performance can influence funding costs and investor access. For policymakers, the deal provides evidence that national sustainability agendas are being translated into liquid financial instruments that can mobilise private capital.

Global and Regional Significance

The transaction adds further momentum to the use of sustainable debt instruments across emerging markets and contributes to the ongoing mainstreaming of blue finance. As the UAE advances its national climate and energy strategies, financial market participation will be critical to scaling ocean stewardship, water management and low carbon energy. Internationally, continued growth in green and blue bond volumes provides institutional investors with larger markets, greater liquidity and clearer pricing for transition exposure.

With emissions, water security and coastal resilience playing central roles in regional development, the capacity to mobilise capital at scale will help determine the pace and credibility of net zero strategies. Emirates NBD’s issuance places the UAE within that expanding ecosystem and reinforces a global pattern in which sustainability is increasingly expressed through capital markets rather than policy alone.

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