UAE district cooling firm Tabreed creates framework to 'green finance' its projects

By District Energy posted 03-08-2022 09:37

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Gulf News

Summary

The UAE district cooling company Tabreed has put together a ‘Green Financing Framework’ that will help with taking on projects that will be built and operate on sustainable practices. Tabreed will issue ‘green’ bonds and take on loans that will only be used for the funding of eligible ‘green projects’.

These projects will thus optimise energy efficiency as well as reduce waste. “We are convinced this will align our operations with the UN’s and UAE’s sustainable development goals,” said Adel Salem Al Wahedi, Tabreed’s Chief Financial Officer

“Around the world, governments and public institutions are adopting ambitious sustainability agendas and at Tabreed we are supporting the UAE’s efforts in this regard. Our investors and stakeholders trust us to lead the drive for sustainability in the district cooling and energy sector. This green financial framework will benefit developers and communities alike, as well as provide Tabreed with its own extra capacity for meaningful growth.”

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