UAE-headquartered but worldwide operating DP World has been raising $1.5 billion through a Green Sukuk in order to support its global decarbonisation efforts.

The Sukuk, being an Islamic financial instruments representing ownership and profit-sharing in Sharia-compliant investments, “was oversubscribed 2.3x due to strong demand from local, regional and international investors, is listed on both Nasdaq Dubai and the London Stock Exchange,” as the company says.

Decarbonisation is a core focus for DP World, and the firm has already committed to becoming carbon neutral by 2040 and net zero carbon by 2050.

Therefore the proceeds from this Sukuk is earmarked for eligible green projects in line with DP World’s recently published Sustainable Finance Framework.

Within Clean Transportation the company have included electrified equipment for freight transportation and hybrid vessels as part of their decarbonisation programme.

“We aspire to lead global trade into a more resilient, efficient, and sustainable future for our customers and their customers. That’s why we are acting with scale and ambition, using our hands-on expertise to reshape trade for the better. The price we achieved for this Green Sukuk is phenomenal and represents the confidence investors have in DP World as a company and our commitment to sustainability,” says Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO.

“Our Green Sukuk amplifies our commitment to placing sustainability at the heart of everything we do, ensuring that we are able to create real societal and economic change. Through this issuance we are able to further align our sustainability strategy, and decarbonisation efforts with the Group’s financing strategy,” says also Yuvraj Narayan, Group Deputy Chief Executive and Chief Financial Officer of DP World.