The Islamic Development Bank was among emerging market pioneers & leadership over the 2010-2020-decade who featured in the 5th Annual Green Bond Pioneer Awards (GBPA) announced by the Climate Bonds Initiative today.

IsDB was announced as the winner of New Market Green Pioneer: Saudi Arabia. 

Dr. Bandar Hajjar, President, IsDB said, “the Islamic Development Bank (IsDB) is honoured to be selected as a New Market Pioneer. This recognition reaffirms our determination to mainstream climate action, along with innovative & sustainable financial instruments such as Green Sukuk, to ultimately serve our Member Countries in achieving the Sustainable Development Goals. We also greatly appreciate the confidence of investors who are our partners in making it happen.”

Focusing on achievement by organisations, financial institutions & governments, the GBPA are the premier international recognition of best practice & innovation in green finance, encompassing green bonds, loans & sukuk & significant market developments in climate & transition-based investment.

The GBPA also maintains a longstanding focus on highlighting green investment in emerging economies & acknowledging regional & national entrants to the markets. New green issuers from Central America, the Caribbean, Middle East, Mediterranean & Eastern Europe feature in this year’s awards, reflecting the growing global diversity in green finance origination.

The 2020 awards, which coincide with Climate Bonds 10 Year Anniversary, also include new categories acknowledging decade long contributions to building green finance from both public & private sector financial institutions.