Abu Dhabi National Energy Company PJSC (TAQA) has launched a new green finance framework for the issuance of green bonds, sukuks, loans, and other debt instruments.
Proceeds from such issuances will go to eligible green projects, including renewable energy, energy efficiency, sustainable water and wastewater management, clean transportation, and terrestrial and aquatic biodiversity. Projects that are being financed under the framework will contribute to TAQA’s 2030 environmental, social, and governance (ESG) targets and its long-term net-zero goal. TAQA’s green finance framework is aligned with the global best practices. TAQA has received support from Citi, Standard Chartered Bank, MUFG and HSBC as joint sustainability structuring banks alongside First Abu Dhabi Bank (FAB) as sustainability finance framework advisor in establishing the green finance framework.