Etihad raises $ 1.2 billion in sustainability debt
DUBAI, Oct.13 (Reuters) – Etihad Airways said on Wednesday it had raised $ 1.2 billion through a loan linked to environmental, social and governance (ESG) goals in global aviation.
The airline said it was the first loan linked to sustainability in global aviation linked to ESG objectives, which relate to reducing carbon emissions and improving corporate governance in addition to making advance the participation of women.
“Through our Greenliner program, we are pursuing several sustainability-related initiatives at Etihad Airways to improve aviation’s environmental footprint, and green financing is a key part of our strategy,” said the group’s chief financial officer, Adam Boukadida.
Etihad is committed to achieving a goal of net zero carbon emissions by 2050.
Last year, Etihad raised $ 600 million in “bridging” sukuk, or Islamic bonds, which are used by companies to shift to more environmentally sustainable operations.
It also raised a loan of 100 million euros in 2019 linked to the United Nations Sustainable Development Goals.
Reporting by Alexander Cornwell; Written by Shakeel Ahmad. Editing by Jane Merriman
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