Emsteel, the parent company of Emirates Steel, has introduced the first green finance framework in the UAE to support environmental initiatives and advance global sustainability and decarbonization efforts.

The program allows Emsteel and its subsidiaries to secure capital through green bonds, loans, and medium-term notes (MTNs) in various currencies, with financing dedicated solely to projects that meet stringent environmental standards. These include low-emission steel and cement production, solar energy, and energy-efficient technologies.

Emsteel Group CEO Saeed Humran Al Remeiti described the initiative as a strategic tool to accelerate the company's transition to a low-carbon economy. The framework aligns with international green finance regulations and has received a "Very Good" (SQS2) rating from Moody’s Ratings, boosting investor confidence. ING served as the lead bank for sustainable structuring, while First Abu Dhabi Bank acted as a regional partner.

Emsteel aims to reduce greenhouse gas emissions by 40% in the steel sector and 30% in the cement industry by 2030. Emirates Steel became the first steel producer in the Gulf Cooperation Council (GCC) region to implement a green hydrogen pilot project in 2024.

Operating 16 facilities, Emsteel has an annual production capacity of 3.5 million tons of steel and 4.6 million tons of cement. The company expanded its investments in innovation by 127% from 2020 to 2024 and holds a 10% share of Abu Dhabi’s manufacturing sector. With a dominant 60% share of the UAE steel market, Emsteel exports to more than 70 countries.