The Hong Kong Monetary Authority (HKMA) and the Dubai Financial Services Authority (DFSA) published a joint research report, Scaling Sustainable Debt in Emerging Markets, developed with BloombergNEF as knowledge partner, assessing how labelled debt can support sustainable development financing in emerging markets. The report finds that labelled sustainable debt markets across the Middle East and North Africa and emerging Asia Pacific have significant room to grow, with many issuers and borrowers funding sustainable projects through unlabelled instruments. It highlights potential enablers including government measures to offset labelling costs and provide guidance, as well as steps to encourage greater corporate issuance and broaden activity beyond green labels and typical market structures. Case studies cover a blue bond by DP World, a sustainability-linked loan bond by Emirates NBD, and a long-tenor green bond and loan by MTR Corporation Limited. The findings are due to be discussed at the DFSA–HKMA Joint Climate Finance Conference on 26 November in Dubai.
Hong Kong Monetary Authority 2025-11-18
Hong Kong Monetary Authority and Dubai Financial Services Authority publish research on scaling labelled sustainable debt in emerging markets
The Hong Kong Monetary Authority and Dubai Financial Services Authority, with BloombergNEF, released a report on scaling sustainable debt in emerging markets. It highlights growth potential in labelled sustainable debt markets in the Middle East, North Africa, and emerging Asia Pacific, emphasizing government measures to reduce labelling costs and encourage corporate issuance. Case studies include a blue bond by DP World and a sustainability-linked loan bond by Emirates NBD.