Tag Archives: Adam Boukadida

Etihad becomes first airline to issue sustainability linked sukuk raising US$ 600 million

Etihad Airways has launched the world’s first Transition Sukuk and the first Sustainability-Linked financing in global aviation, under a Transition Finance Framework. This follows the first aviation financing linked to the United Nations Sustainable Development Goals raised in December 2019, further confirming Etihad’s role as an industry leader in sustainable finance. The US$ 600 million transaction will support Etihad’s drive for sustainable aviation by linking the sukuk terms to Etihad’s carbon reduction targets: a commitment to Net Zero Carbon emissions by 2050; a 50% reduction in net emissions by 2035; and a 20% reduction in emissions intensity in the airline’s passenger fleet by 2025. Adam Boukadida, Chief Financial Officer, Etihad Aviation Group, said: “Sustainability and responsible climate action are the most significant challenges facing the aviation industry. As the UAE’s flag carrier, Etihad is committed to sustainable development in aviation in line with Abu Dhabi’s vision. “By issuing a Sustainability-Linked Sukuk, Etihad is voluntarily adding to its existing commitments under CORSIA, and also committing to reduce carbon emissions intensity by over 20% from the 2017 baseline,” added Boukadida.

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