DUBAI, 22nd October, 2026 (WAM) -- The UAE accounted for approximately 61% of sustainable debt issuance across the Gulf region in all currencies during the first nine months of 2026, according to a senior Fitch Ratings official.

Bashar Al Natoor, Managing Director and Global Head of Islamic Finance at Fitch Ratings, told the Emirates News Agency (WAM) on the sidelines of the World Green Economy Summit in Dubai that the Gulf region accounted for approximately 40% of US dollar-denominated sustainable debt issuance in emerging markets, excluding China, during the same period.

Al Natoor highlighted the growing importance of sustainable finance in supporting the region's sustainability objectives, underscoring the role of debt capital markets, including environmental, social and governance (ESG) sukuk and bonds, in financing sustainable projects.

He said sustainable finance encompasses multiple funding sources, including government and bank financing, direct investment and debt capital market issuance, including sukuk and bonds linked to sustainability objectives.

Al Natoor noted that the market for ESG sukuk and bonds has expanded in recent years, with these instruments playing an increasingly important role in supporting the transition towards a more sustainable economy and enhancing institutions' capacity to finance projects that take environmental and social considerations into account.

He said the majority of the sustainability-related sukuk referred to in his remarks carry investment-grade credit ratings, with a significant proportion assigned Stable Outlooks, indicating a significant level of credit quality in the sector.

Al Natoor noted that sustainable finance issuance declined during the first nine months of 2026 amid prevailing conditions. However, he expected the market to continue growing and its financing instruments to diversify over the medium to long term as more governments and companies adopt sustainability objectives and make use of available financing instruments to achieve them.