Masdar, a renewable energy company based in the UAE, has announced that its global portfolio of clean energy projects, either invested in or committed to investment, had surpassed $30B in the first quarter of 2023, as per the Green Finance Framework (GFF) statement.
The GFF report highlighted that these projects had a collective gross capacity of more than 20 GW, and could reduce carbon dioxide emissions by up to 30 million tonnes each year. The statement received the highest rating, SQS1 (Excellent), from Moody’s Investors Service, its Second Party Opinion provider.
Masdar also confirmed plans to issue its first green bond in 2023, guided by its Green Finance Framework, which will conform to sustainable finance industry best practices. Niall Hannigan, Masdar’s Chief Financial Officer, said that “Our Green Finance Framework will guide all future issuances in the loan and debt capital markets, in line with best practices in the sustainable finance industry.”
