The Dubai International Financial Centre branch of China Construction Bank – one of China’s top banks – listed a $600-million green bond on Nasdaq Dubai.

The bond represents the bank’s “significant commitment to sustainable financing and highlights the growing synergy in green financing between China and UAE,” read a statement posted by Dubai Media Office on Monday.

The total value of bonds listed on Nasdaq Dubai by China Construction Bank, comprising issuances by its Hong Kong and Dubai branches, now stands at $2.45 billion.

To mark the issuance, H.E Li Xuhang, Consul-General of the People’s Republic of China in Dubai, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), rang the market opening bell at Nasdaq Dubai.

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Ali said that “with this listing, Nasdaq Dubai solidifies its position as a global leader in creating an ecosystem that fosters sustainable financing and responds aptly to the growing demand for green financing instruments in the region.”

“We look forward to furthering access to these innovative financial solutions on our platform.”

The cumulative value of outstanding debt from Chinese Issuers on Nasdaq Dubai stands at $11.95 billion, through 22 issuances.

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This listing brings Nasdaq Dubai’s total value of environmental, social, and corporate governance (ESG) related issuances to $27.05 billion and contributes to a total value of debt listed on the exchange totaling $128.66 billion, “positioning Nasdaq Dubai as a leading global hub for fixed income listings and a hotspot for sustainable financial instruments,” the statement said.

The listing by China Construction Bank (DIFC branch) will leverage capital market to support symbolic green projects in UAE and the region in sectors of renewable energy, sea water desalinisation, reduction of greenhouse gas emissions and energy saving, the staement added.