Dubai, UAE – The UAE’s issuance of sustainable bonds and sukuk increased by 6% in 2025 to reach AED 28.6 billion ($7.8 billion).
It accounted for approximately 31.7% of the total value of sustainable issuances in the Middle East, North Africa and Turkey.
Which amounted to 90.2 billion dirhams ($24.6 billion).
The agency’s report on «Sustainability Issuance Trends in the Middle East Region 2026» stated that the UAE leads the countries of the region in the number of publications, with a total of 15 publications.
It was followed by Saudi Arabia with a total of 12 issues, then Türkiye with a total of 8 issues.
According to the report, sustainability issuances in the UAE varied between the renewable energy, banking and real estate sectors.
The most prominent of which were two First Abu Dhabi Bank issuances worth $986 million, another worth $750 million, and an issuance by Dubai Islamic Bank worth $1 billion.
A Masdar issue worth $500 million, another Dar issue worth $500 million, a Refrigeration issue worth $700 million, and a Shoba issue worth $750 million.
The report expected that the sustainable finance market in the Middle East would witness increasing growth, reaching between $20 and $25 billion in 2026.
The report indicated that sustainable bond issuances in the Middle East increased by about 3% in 2025, despite a 21% decline globally.
He pointed out that the strong growth in issuances in the Gulf Cooperation Council countries, specifically in the United Arab Emirates and Saudi Arabia, contributed to supporting bond issuances in the Middle East region.
The report indicated that energy companies, such as Masdar, are likely to continue issuing green bonds to help expand renewable energy portfolios and transition from fossil fuels.
New bond types
The report expects that the launch of guidelines for sustainability-related loan financing bonds in June 2024 will also support the move towards additional issuances.
Especially from banks.
In 2025, Emirates Islamic Bank issued its first sustainability-related loan financing instrument.
The report noted that blue bonds are more popular in the UAE, in line with the 2036 Water Security Strategy.
In August 2025, First Abu Dhabi Bank issued the region’s first blue bonds.
It is the first issuance issued by a financial institution in the region.
The report expected that bonds with digital ratings would appear, noting that the agency noted some interest in issuing digital bonds (unrated) in the region.
Sustainable instruments
The agency expected the continued issuance of sustainable instruments in the Gulf Cooperation Council countries in 2026.
This comes after total sustainable sukuk issuances in the Middle East reached a new record of $11.4 billion in 2025, compared to $7.85 billion in 2024.
The report indicated an increasing share of sustainable instruments.
It represented more than 45% of regional sustainable bond issuance in 2025 by value and more than 40% of the number of issuances.
Compared to 33% for value and 24% for number, respectively, at the end of 2024.
regulatios
The UAE Sustainable Finance Working Group, established in 2019, is developing a framework for developing a UAE-specific classification.
Federal Decree No. 11 (2024) requires all entities to measure, report, and reduce greenhouse gas emissions by May 2026.
The law is in line with the UAE’s goal of achieving carbon neutrality by 2050 and other strategies.
Includes the UAE’s National Green Agenda and National Air Quality Agenda.
