GCMA Talks Green Finance at Dubai Breakfast Seminar
The Gulf Capital Market Association Talks Sustainable Energy Finance, Green Bonds and Sukuk at Dubai Breakfast
DUBAI, November 5, 2014 – The Gulf Capital Market Association (GCMA), the trade association representing the Arabian Gulf fixed income market held a breakfast seminar in Dubai in cooperation with Clean Energy Business Council to highlight innovative means of financing environmentally friendly investment in the Middle East.
Mustafa Aziz Ata, Head of MENA DCM (ex-KSA), HSBC described for the audience the rapid rise of the global “Green Bond” market and its potential for Middle East governments, corporates and projects.
Lee Irvine of Latham and Watkins and Jeremy Crane of Adenium Energy Capital went on to discuss the prospects for launch of a market for “Green Sukuk” or Sharia’ compliant capital market instruments for financing clean energy, renewables and other environmental projects.
GCMA President Michael Grifferty remarked: “The GCMA will continue to work on creating awareness about green finance among investors as well as potential project sponsors and issuers. Financing and implementing environmentally sustainable projects has to be one of the highest priorities across the entire Middle East region.”
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.