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Tabreed launches green financing framework to support UAE’s carbon neutral plans

Tabreed launches green financing framework to support UAE’s carbon neutral plans
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Tabreed
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Dubai – Mubasher: National Central Cooling Company (Tabreed) has launched a green financing framework to support projects aligned with the UAE’s carbon-neutral objectives.

Under the framework, the company will issue green bonds and loans to finance green projects with their net proceeds, according to a press release on Monday.

These projects include its businesses related to construction, acquisition, and operation of district cooling schemes and energy and water efficiency and wastewater management.

The framework is in line with the ICMA Green Bond Principles (GBP) 2021 and the Loan Market Association (LMA) Green Loan Principles (GLP) 2021.

Tabreed’s Chief Financial Officer, Adel Salem Al Wahedi, said: "Our investors and stakeholders trust us to lead the drive for sustainability in the district cooling and energy sector, and this green financial framework will benefit developers and communities alike, as well as provide Tabreed with its own extra capacity for meaningful growth."