By Geoffrey on November 2, 2021
In a press release distributed on April 27, 2021 Symbiotics reported that it “has arranged a USD 6.75 million Sustainability Bond for ACBA Bank OJSC (“ACBA”).
This represents a landmark transaction for the only cooperative bank present in Armenia. ACBA has committed to use the proceeds of the Sustainability Bond for both social and green projects, in line with the ICMA Sustainability Bond Principles.
The social projects are micro loans up to USD 10,000 to microenterprises and SME loans up to USD 1 million to small and medium enterprises generating employment and improving the general funding available to this market. The green projects are centered around renewable energy projects, energy efficiency loans, clean transportation and sustainable agricultural loans focused on climate-smart farm inputs.”
You may read the press release on the news page of the Symbiotics internet site.
Posted in 2021, Banking, Europe, Fixed Income, Sustainability
By Geoffrey on October 28, 2021
In a press release published on PR Newswire on October 28, 2021 the “Saudi Exchange announced that it has issued Environmental, Social, and Governance (ESG) disclosure guidelines to promote sustainable growth in the Kingdom. The guidelines demonstrate Saudi Exchange’s continued commitment to support more than 200 listed companies and also prospective companies looking to list. The launch of the disclosure guidelines highlights the Exchange’s efforts to raise awareness on the importance of ESG within the Saudi capital market.
The ESG disclosure guidelines launch coincides with a growing global focus on ESG. Capital markets have an important role to play in promoting sustainability and Saudi Exchange is committed to advancing the Saudi capital market, in line with Vision 2030.
Mohammed Al-Rumaih, CEO of Saudi Exchange, commented: ‘With the launch of the ESG disclosure guidelines, Saudi Exchange has reaffirmed its commitment to helping issuers of all sizes integrate ESG into their investor reporting and communications. Sustainable investment practices play a significant role across global markets and we have a responsibility to highlight the importance of ESG and the opportunities ESG presents for all our market participants and stakeholders.’”
You may read the press release on the PR Newswire internet site.
You may download the ESG disclosure guidelines here.
Posted in 2021, Capital Markets, Corporate Governance, Middle East, Sustainability