emirates7 - Abu Dhabi Future Energy Company PJSC (Masdar), a global leader in clean energy, has released its 2024 Green Finance Report, detailing the renewable energy initiatives funded through its green bond issuances and the resulting environmental impacts.
As of 31 December, over US$1.685 billion from green bonds issued in 2023 and 2024 had been allocated to new solar, onshore and offshore wind, and energy storage projects. These investments are driving clean energy development in the UAE, Saudi Arabia, the United States, Germany, and the United Kingdom, as well as emerging markets including Uzbekistan, Azerbaijan, and Serbia.
The report highlights that every $1 million invested via Masdar green bonds helps avoid approximately 3,700 tonnes of CO₂ emissions annually, totaling more than 6.28 million tonnes of CO₂ avoided each year across all funded projects.
Mazin Khan, Masdar’s Chief Financial Officer, commented, “Our green finance strategy relies on disciplined capital allocation, strong ESG integration, and transparent reporting. By channeling bond proceeds into greenfield projects under stringent criteria, we advance clean energy while ensuring financial efficiency and investor confidence.”
In March, Masdar updated its Green Finance Framework to expand eligibility to include green hydrogen and stand-alone battery energy storage systems. Following this, Moody’s Investors Services reaffirmed Masdar’s Sustainability Quality Score of SQS1 (Excellent) in its Second Party Opinion and confirmed the framework aligns with international best practices, including the ICMA Green Bond Principles and Green Loan Principles.
This led to strong demand for Masdar’s $1 billion green bond issuance in May 2025, which was 6.6 times oversubscribed, with 85% allocated to international investors and 15% to MENA investors. Since launching its green bond programme in 2023, Masdar has raised a total of $2.75 billion.
In addition to its green bonds, Masdar advanced broader financing activities, providing $6 billion in non-recourse financing in 2024 to support 11 GW of clean energy across 12 projects in nine countries.
To maintain transparency in sustainable finance, Masdar engaged Ernst & Young to conduct a limited assurance review of both the allocation of proceeds and selected environmental impact metrics presented in its 2024 Green Finance Report.
As of 31 December, over US$1.685 billion from green bonds issued in 2023 and 2024 had been allocated to new solar, onshore and offshore wind, and energy storage projects. These investments are driving clean energy development in the UAE, Saudi Arabia, the United States, Germany, and the United Kingdom, as well as emerging markets including Uzbekistan, Azerbaijan, and Serbia.
The report highlights that every $1 million invested via Masdar green bonds helps avoid approximately 3,700 tonnes of CO₂ emissions annually, totaling more than 6.28 million tonnes of CO₂ avoided each year across all funded projects.
Mazin Khan, Masdar’s Chief Financial Officer, commented, “Our green finance strategy relies on disciplined capital allocation, strong ESG integration, and transparent reporting. By channeling bond proceeds into greenfield projects under stringent criteria, we advance clean energy while ensuring financial efficiency and investor confidence.”
In March, Masdar updated its Green Finance Framework to expand eligibility to include green hydrogen and stand-alone battery energy storage systems. Following this, Moody’s Investors Services reaffirmed Masdar’s Sustainability Quality Score of SQS1 (Excellent) in its Second Party Opinion and confirmed the framework aligns with international best practices, including the ICMA Green Bond Principles and Green Loan Principles.
This led to strong demand for Masdar’s $1 billion green bond issuance in May 2025, which was 6.6 times oversubscribed, with 85% allocated to international investors and 15% to MENA investors. Since launching its green bond programme in 2023, Masdar has raised a total of $2.75 billion.
In addition to its green bonds, Masdar advanced broader financing activities, providing $6 billion in non-recourse financing in 2024 to support 11 GW of clean energy across 12 projects in nine countries.
To maintain transparency in sustainable finance, Masdar engaged Ernst & Young to conduct a limited assurance review of both the allocation of proceeds and selected environmental impact metrics presented in its 2024 Green Finance Report.