The UAE accounted for roughly 61% of sustainable debt issuance across the Gulf in all currencies during the first nine months of 2026, according to Bashar Al Natoor, Managing Director and Global Head of Islamic Finance at Fitch Ratings.
Speaking to the Emirates News Agency (WAM) on the sidelines of the World Green Economy Summit in Dubai, Al Natoor said the wider Gulf region accounted for about 40% of US dollar-denominated sustainable debt issuance in emerging markets, excluding China, over the same period. He noted that most sustainability-related sukuk carry investment-grade ratings, with many assigned Stable Outlooks.
Overall sustainable finance issuance declined during the period amid prevailing conditions, though he expects the market to grow and diversify over the medium to long term as governments and companies adopt sustainability targets.
Gulf Economist Staff Writer