Apicorp launches first green bond framework

DUBAI, Sept 23 (Arab News): The Arab Petro-leum Investments Corpor-ation (Apicorp) has launched its first green bond framework.

It follows the recent approval of the OPEC-created financial institution's environmental, social, and governance (ESG) policy framework, as it aims to develop the sustainable financial market.

The framework will be used to raise green bonds/sukuk for projects aligned with the UN Sustainable Development Goals - addressing issues in climate mitigation, circular economy, and biodiversity preservation among others.

It was created in line with the International Capital Market Associa-tion's Green Bond Principles 2021.