HSBC President of Riyadh: 2021 will be the first trillion years for green bonds

HSBC Bank Chief Executive Noel Quinn confirmed, in a speech during the activities of the summit of the Green Middle East Initiative, in Riyadh today, Monday, that the proceeds of green bonds in the world amounted to approximately 777 billion dollars in 2021, of which the bank has helped raise 170 billion.

Quinn revealed that 2021 will be the first “trillion” year for green bonds, anticipating a change radically for industries in order to be neutral in terms of emissions and carbon emissions, and this will shape A challenge and great opportunities at the same time.

At the start of the conference, Saudi Crown Prince Mohammed bin Salman pledged to invest more than $ 1 billion in new environmental initiatives to combat climate change, while the Kingdom, the world’s largest oil exporter, seeks to strengthen its environmental role globally.

In his opening speech at the conference, Prince Mohammed bin Salman announced: “The establishment of an investment fund in solutions for circular carbon economy technologies in the region and a global initiative to help provide clean fuel solutions with a total investment of 39 billion riyals ($ 10.4 billion) “, the Kingdom pays” approximately the 15%”. That is about 1.56 billion dollars.

In turn, US presidential special envoy for climate, John Kerry, praised Saudi Arabia’s efforts to combat climate change. Kerry said in a speech at the conference that we all have a responsibility to preserve the planet.

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