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Etihad Rail launches sustainable financing framework to promote green investments
(MENAFN) On Wednesday, Etihad Rail, the entity responsible for developing and operating the UAE's national railway network, unveiled a new sustainable financing framework aimed at advancing its commitment to environmentally responsible investments in transport and infrastructure. The framework is designed to align future financing with the company's environmental, social, and corporate governance (ESG) strategy. This strategy focuses on offering eco-friendly transportation services, constructing green buildings, and managing pollution.
The framework outlines principles for green loans and bonds that adhere to international sustainability standards. It includes criteria for financing sustainable projects, evaluating and selecting projects, and managing and reporting on the use of proceeds to ensure transparency. Although the details of specific investments were not disclosed, the framework aims to provide a clear roadmap for integrating ESG considerations into investment and financing decisions.
Ali Tabbal, Chief Financial Officer of Etihad Rail, emphasized that the framework will help the company transition to a low-carbon economy and support the UAE's Climate Neutrality Strategy 2050. This initiative follows the UAE's hosting of the United Nations Climate Change Conference (COP28) in Dubai last year, underscoring the country's commitment to sustainability and climate action.
The framework outlines principles for green loans and bonds that adhere to international sustainability standards. It includes criteria for financing sustainable projects, evaluating and selecting projects, and managing and reporting on the use of proceeds to ensure transparency. Although the details of specific investments were not disclosed, the framework aims to provide a clear roadmap for integrating ESG considerations into investment and financing decisions.
Ali Tabbal, Chief Financial Officer of Etihad Rail, emphasized that the framework will help the company transition to a low-carbon economy and support the UAE's Climate Neutrality Strategy 2050. This initiative follows the UAE's hosting of the United Nations Climate Change Conference (COP28) in Dubai last year, underscoring the country's commitment to sustainability and climate action.
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