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On May 8th, the UAE steel company Emsteel 20MnB5 steel Group announced the official launch of its first Green Finance Framework to promote long-term sustainable development and achieve carbon reduction goals. This framework will provide policy support for the group and its subsidiaries to issue green financial instruments, including green bonds, green loans, commercial paper, and medium-term notes, covering multiple currency forms.
According to Emsteel's disclosure, the proceeds 20MnB5 steel raised will be used exclusively for investment or refinancing low-carbon projects that meet strict environmental standards. The project scope covers low-carbon steel and cement production, construction of renewable energy devices such as photovoltaics, efficient energy-saving technologies, and innovative solutions to promote emissions reduction. The company stated that this framework will contribute to its 2030 strategic emission reduction targets, which aim to reduce greenhouse gas emissions in steel production by 40% and cement production by 30%.
At present, Emsteel has an annual 20MnB5 steel production capacity of 3.5 million tons and a cement production capacity of 4.6 million tons, making it one of the major steel and building materials production enterprises in the Middle East region. This green financing initiative is expected to inject new impetus into regional industrial transformation and green investment.
