EMSTEEL has introduced its first green finance framework, aligning its financial strategy with long-term sustainability and decarbonisation goals. This initiative positions EMSTEEL as a regional leader in sustainable finance.
The framework enables EMSTEEL and its subsidiaries to issue green financial instruments, including bonds, loans, commercial papers, and medium-term notes (MTNs), in multiple currencies. Proceeds will be dedicated to financing or refinancing eligible green projects, such as low-carbon steel and cement production, solar energy systems, energy-efficient technologies, and other decarbonisation efforts.
Developed in line with international best practices, the framework ensures transparency in issuing, managing, and reporting green finance instruments. Moody’s Ratings provided a Second Party Opinion, awarding it a Sustainability Quality Score of SQS2 (Very Good), reinforcing investor confidence.
Key partners in the development include ING as Lead Sustainability Structuring Bank and First Abu Dhabi Bank (FAB) as Sustainability Structuring Bank, reflecting strong regional collaboration in advancing green finance.
EMSTEEL Group comprises two core divisions: Emirates Steel and Emirates Cement. Headquartered in Abu Dhabi, Emirates Steel boasts an annual production capacity of 3.5 mln tons of steel and 4.6 mln tons of cement. The group exports to over 70 countries, with international sales accounting for 30pct of its total revenue. Its product portfolio includes wire rod, rebar, heavy sections, and sheet piles.