Regulatory Alerts2025-05-27
Guidelines for Issuing Green, Social, Sustainability, and Sustainability-Linked Debt Instruments
The Capital Market Authority of Saudi Arabia has issued guidelines establishing a disclosure-based framework for issuing green, social, sustainability, and sustainability-linked debt instruments in Saudi Riyals. Issuers must publish a detailed framework document, appoint an independent external reviewer aligned with ICMA standards, and provide annual post-issuance reports detailing use of proceeds or sustainability performance targets. While compliance is guidance-based, any non-compliance must be explicitly disclosed in offering documents, with sustainability-linked instruments uniquely tying financial or structural adjustments to the achievement of predefined key performance indicators.
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