DP World Wins Best Green Bond of the Year at Sustainable Debt Awards 2025
UK media firm Environmental Finance has been folowing environmental finance since 1999 and has set up Sustainable Debt Awards since 2016. In 2025, DP World was awarded the Best Green Bond in the EMEA region. The Award was presented during a ceremony at the Nasdaq Dubai stock exchange.
In December 2024, DP World issued a groundbreaking #BlueBond to raise capital worth USD 100 million to support the implementation of sustainable projects in marine transportation, port infrastructure, and marine ecosystem conservation. In particular, the projects are in line with the UN SDG 14 for oreserving Life Under Water and SDG 6 for promoting Clean Water and Sanitation.
“As a responsible leader in global trade, we are committed to preserving the ocean’s ability to provide for future generations. It is our ambition to lead our industry towards a sustainable #BlueEconomy as we work with our partners to remove barriers to comprehensive climate and ocean action. This #BlueBond will lay the foundation for the years to come.”
DP World Chairman Ahmed bin Sulayem
The Blue Bond is also alignedwith DP World’s Ocean Strategy and long-standing Decarbonization and Water Strategies. The Ocean Strategy of DP World complies with the #ParisAgreement and the Kunming-Montreal Biodiverstity Goals.
The main investor was Asset Management Company T. Rowe Price Associates. Citigroup acted as the main arranger for this inaugural Blue Bond issuance under the updated Sustainable Finance Framework (#SFF).
“We are proud to partner with DP World on its issuance of the first corporate Blue Bond in the Middle East. This innovative transaction will mobilize capital towards UN SDG 14, Life Below Water, while providing an opportunity for attractive investment returns. We recognize UN SDG 14 as the most underfunded of all the sustainable development goals. We hope this transaction can be a model for other issuers and investors to support the blue economy.”
T. Rowe PRice CEO Rob Sharpes
The Blue Bond has a five-year term with a coupon rate of 5.25%. It offers a 99.6 basis point above US Treasuries and represents the tightest spread ever in the sukuk or bond marketfor DP World. The bond is listed on the Nasdaq Dubai stock market, thus enhancing Dubai as a green International Financial Center (IFC). So far Nasdaq Dubai has a cumulative amount of USD 30 billion in #ESG-linked debt listings.
Earlier in 2023, DP World raised USD 1.5 billion in the Sukuk market, of which USD 1.17 billion has already been allocated to green projects. The Sukuk finance has contributed to avoid more than 177 M tCO2 and save 466,057 MJ of energy by generating 866,686 kWh of renewable energy.