KSrelief Nutritional Medical Clinics Continue Providing Treatment Services, in Hodeida, Yemen    OPEC Basket Price Stood, at $46.67    South Korea Reports 629 New Coronavirus Cases    Prince Faisal lauds Kuwaiti, US efforts in Gulf crisis GCC chief welcomes Kuwait foreign minister's remarks about likely Gulf reconciliation    Sullivan two clear of Wallace in Dubai    Saudi Arabia ranks first in Arab world, 22nd globally in Global AI Index    Single-day deaths fall to 10 as Saudi Arabia reports 234 COVID-19 cases, 357 recoveries    Wall Street Closing    KSrelief Distributes 190 Winter Bags for Displaced in Marib, Yemen    Sadara launches on-job training for Saudi fresh graduates    Saudi Press: Saudi Arabia Establishes Its Relations with Countries on Principles of Mutual Respect    HRH Crown Prince Congratulates Thailand's King on His Country's National Day    The Joint Forces Command of the Coalition to Restore Legitimacy in Yemen: Interception, Destruction of Bomb-Laden UAV Launched by Terrorist, Iran-Backed Houthi Militia Toward the Kingdom    King Salman, Crown Prince send condolences to Macron on death of France's ex-president    COVID-19 recovery focus of UN General Assembly special session    'UAE committed to resolving Palestinian-Israeli conflict'    LuLu launches Italian food festival 'Let's Eatalian'    Bahrain, UAE leaders condole King Salman on Princess Hessa's death    Yamaha's Adrien Van Beveren tops massive bike and quad entry for Hail Bajas    Proactive judiciary helps recover R12bn stalled projects funds of 30,000 investors    President of IsDB Meets with Benin's Minister of State in Charge of Planning and Development    Executive regulations on labor reform initiative in the offing    Saudi Aramco says teams working to fix technical glitch in Jazan pumping facility    Sullivan breaks course record with a 61 to lead DP World event    UAE marks 49th National Day with 5 different GWR attempts    Saudi Arabia is the Safest among G20 Countries According to International Indicators    Saudi Stock Exchange Main Index Ends Trading Lower, at 8,694.13 Points    ARM, BUTT Sports, CSG, ICAD, M Eagles, R Jurana maintain winning streak in Ace Travel Saudi Cu    ISO Launch Quality Ambassadors' Initiative    British actor Prowse who played Darth Vader dies aged 85    Mahrez hat-trick as Manchester City thrash Burnley 5-0 yet again    Late penalty leaves Liverpool with draw at Brighton    Rapper Shouly releases debut solo album ‘The Empty Quarter' Album tackles big issues including fear, vice, anxiety, family, and religion    Improving immunity key reason to participate in Dubai Fitness Challenge    Argentina Soccer Legend Maradona Dies of Heart Attack    Coman rescues 1-1 draw for Bayern against Werder    MCIT Launches Initiative to Raise Awareness on Cyberbullying    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Saudi Medical Team Restore Young Man's Lost Vision, One Year later    KSrelief Organizes Awareness Campaign on Breast Cancer in Aden Governorate, Yemen    Ithra Signs Agreement with Supreme Council of Antiquities of Egypt    Court facilitates young woman's marriage after stripping father's guardianship    Bahrain's top Islamic body condemns attempts to insult Muslim symbols    Saudi man accused of harassing foreign wife asked to be produced before court Court allows divorce, custody of children by mother    S. P. Bala, legendary Indian singer, dead at 74    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Etihad Airways becomes first airline to issue sustainability-linked sukuk
Published in The Saudi Gazette on 29 - 10 - 2020

Etihad Airways has announced the launch of the world's first transition sukuk and the first sustainability-linked financing in global aviation, under a transition finance framework.
According to Etihad, this follows the first aviation financing linked to the United Nations Sustainable Development Goals raised in December 2019, further confirming Etihad's role as an industry leader in sustainable finance.
The $600 million transaction will support Etihad's drive for sustainable aviation by linking the sukuk terms to Etihad's carbon reduction targets: a commitment to net zero carbon emissions by 2050; a 50 percent reduction in net emissions by 2035; and a 20 percent reduction in emissions intensity in the airline's passenger fleet by 2025.
Commenting on the announcement, Adam Boukadida, Chief Financial Officer of Etihad Aviation Group, said, "Sustainability and responsible climate action are the most significant challenges facing the aviation industry. As the UAE's flag carrier, Etihad is committed to sustainable development in aviation in line with Abu Dhabi's vision.
"By issuing a Sustainability-Linked Sukuk, Etihad is voluntarily adding to its existing commitments under CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation), and also committing to reduce carbon emissions intensity by over 20 percent from the 2017 baseline."
HSBC and Standard Chartered Bank acted as Joint Global Coordinators and Joint Sustainability Structuring Agents. Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, and Standard Chartered Bank acted as Joint Lead Managers & Bookrunners. Abu Dhabi Commercial Bank acted as Joint Lead Manager, and Mashreq Bank acted as financial adviser. — WAM


Clic here to read the story from its source.