DUBAI: Etihad Rail, the developer and operator of the United Arab Emirates’ rail network, has launched a sustainable finance framework to support its green investments in transportation and infrastructure, it said on Wednesday.
The company said the framework would tie future financing to its environmental, social and governance strategy, providing guidelines on potential investments in areas such as clean transportation, green buildings and pollution prevention and control.
Etihad Rail’s statement, which gave no further details on potential investments, said that the framework provides guidelines around green loan and bond principles, the use of proceeds, project evaluation and selection, as well as proceeds management and reporting.
CFO Ali Tabbal said the framework “provides a clear roadmap for integrating ESG considerations into investment decisions.” He said in the statement it would support green efforts by the UAE, which aims to reach net zero carbon emissions by 2050 and last year hosted the COP28 climate summit in Dubai.
Etihad Rail’s network spans 900 kilometers across the UAE and connects industrial and commercial centers with terminals like Ghuwaifat, at the border with Saudi Arabia, and major ports such as Fujairah, close to Oman.
