DP World has issued a $100M blue bond, the first of its kind in the Middle East and North Africa (MENA) region, to fund initiatives supporting marine transportation, port infrastructure, reducing marine pollution, and promoting nature- and water-positive solutions. The five-year bond, priced at a 5.25% coupon rate, supports UN SDG 14 (Life Below Water) and SDG 6 (Clean Water and Sanitation), addressing the funding gap for these under-supported goals amidst growing global challenges like marine pollution and water scarcity.
T. Rowe Price Associates, a global investment firm, is the key investor, reflecting rising interest in sustainable financing. The bond aligns with DP World’s Ocean Strategy, which integrates global trade with environmental stewardship, advances a sustainable blue economy, and supports climate and biodiversity goals under the Paris Agreement and Kunming-Montreal Framework.
Sultan Ahmed bin Sulayem, DP World’s group chairman and CEO, highlighted its significance, stating, “This blue bond lays the foundation for a sustainable blue economy, enabling ocean conservation for future generations.” Rob Sharps, CEO of T. Rowe Price Group, commended the bond’s innovation in mobilising capital for underfunded SDG 14, offering both environmental impact and investment returns.
Proceeds will fund sustainable marine transport, eco-friendly port upgrades, marine ecosystem restoration, and pollution control. This follows DP World’s updated Sustainable Finance Framework, aligned with global standards, and builds on its successful $1.5 billion green sukuk earlier this year, which funded projects avoiding over 177 million kg of CO2 emissions and generating renewable energy.
