Emirates NBD Issues Its First $1 Billion Blue-Green Bond to Fund Marine and Energy Transition Projects

Dubai, United Arab Emirates — January 8, 2026 — Emirates NBD, Dubai's biggest bank by assets, announced the issuance of its first blue-green bond, a $1 billion dual-tranche transaction placed under the bank's Euro Medium-Term Note programme. The deal combines a three-year blue tranche of $300 million — the largest blue bond issued in the United Arab Emirates and the Gulf, according to the lender — with a five-year green tranche of $700 million, and attracted strong demand from global investors.

Dubai coastal skyline with clean blue water and a modern marina in daylight

Structure of the dual-tranche issuance

The transaction was announced in a bank statement on Thursday, January 8, 2026. Proceeds are earmarked for two complementary categories of sustainable spending:

Blue tranche — $300 million, three years. Finances marine and ocean-based developments, including preserving marine ecosystems and promoting more efficient water consumption. Emirates NBD called it the largest blue bond issued in the UAE and the Gulf.
Green tranche — $700 million, five years. Finances environmentally friendly projects that support the energy transition and net-zero ambitions.
Issuance framework. Both tranches were placed under the bank's Euro Medium-Term Note programme, a shelf structure that supports repeat offerings to institutional investors.

Green bonds are debt securities raised to fund environmentally friendly projects, while blue bonds target marine and ocean-based developments. Investment in both segments is growing, as issuers and investors align their portfolios with global sustainability pledges and net-zero commitments.

Investor demand and significance for the Gulf debt market

Emirates NBD said the bond attracted strong demand from global investors, including US investment management firm T Rowe Price. Ahmed Al Qassim, group head of wholesale banking at Emirates NBD, said the issuance highlights the depth and diversity of the Gulf's sustainable debt markets.

"We continue to mobilise capital to stimulate and safeguard our region's environmental priorities, including preserving marine ecosystems, promoting more efficient water consumption and accelerating the energy transition," Al Qassim said. The transaction also supports the UAE's broader sustainability agenda, he added.

ESG context: a green economy above $5 trillion

The placement comes as a growing number of companies ramp up their environmental, social and governance (ESG) agendas. According to a World Economic Forum report published in December 2025:

The global green economy has surpassed $5 trillion and is projected to exceed $7 trillion annually by 2030.
Green revenue is growing twice as fast as conventional revenue on average.
Companies involved in green markets often secure cheaper capital and typically enjoy valuation premiums.

In its 2025 ESG Momentum Report, Emirates NBD said it had made significant progress in addressing sustainability-related risks, seizing emerging opportunities and delivering measurable positive impact. The $1 billion blue-green bond extends that record into the debt capital markets and positions the bank among the most active sustainable issuers in the Gulf region.