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In June 2020, First Abu Dhabi Bank (FAB), the UAE s largest bank, successfully issued a landmark HKD750 million five-year Green Bond, the first Green Bond in HKD by an offshore financial institution. This was followed by a Hong Kong branch of China Construction Bank (CCB) which listed two green bonds of USD700 million US dollars and USD500 million on Nasdaq Dubai in August the same year. These transactions are testament to the growing interest in green financing.
Hong Kong and Dubai, being the significant green finance hubs in Asia and the Middle East, have launched schemes and guidelines in support of development of green and sustainable financing. In May 2021 Hong Kong launched a new Green and Sustainable Finance Grant Scheme to further enrich the green and sustainable finance ecosystem in Hong Kong. The Dubai Sustainable Finance Working Group has also recently published two comprehensive guides on the expansion of sustainable finance in the UAE and wider