GCMA Discusses Role Of Fixed Income Market at World Green Economy Summit
The Gulf Capital Market Association Discusses Role Of Fixed Income Market at World Green Economy Summit
Dubai, April 29, 2015 – The Gulf Capital Market Association (GCMA), the trade association representing the Arabian Gulf fixed income market, moderated a panel at the World Green Energy Summit in Dubai titled ‘The Race for Green Finance/Green Funds and Bonds.’
The session connected senior figures from government institutions with leading global energy players and highlighted the need for financial innovation in green energy funding.
Michael Grifferty, President of the GCMA and moderator of the panel, said: “Socially responsible investments such as green energy projects have overwhelming similarities to Shari’a compliant investments as the underlying assets are tangible and yield a financial and social return. This makes sukuk a viable instrument to fund green energy projects.”
Panelists included Abdul Nasser Abbas, Senior Director of Treasury at Dubai Electricity and Water Authority (DEWA), Annette Eberhard, CEO of Denmark’s Export Credit Fund, Sean Kidney, CEO of Climate Bonds, Jarett Carson, Managing Director of EnerTech Capital, and Ben Cotton, Partner at Earth Capital Partners.
Grifferty continued: “This type of dialogue is part of our drive to advocate the use of green bonds and sukuk in the region. Such events are critical to draw on the experiences of global and regional stakeholders.”
The GCMA’s sub-committees, working groups and National Chapters bring together the thought leaders of the regional credit markets to create a more collective voice on key issues affecting the industry.
NOTE FOR EDITORS:
The Gulf Capital Market Association
The Gulf Capital Market Association (GCMA) is the regional trade association representing the Arabian Gulf bond and sukuk market. GCMA is involved in all major matters concerning development of bond markets in the region.