Fintech PR
APICORP Rebrands as The Arab Energy Fund, Unveils New Strategy and Plans up to $1bn to Drive Energy Transition Including Decarbonization Technologies
- APICORP unveiled its new identity The Arab Energy Fund at COP 28, ushering in a visionary 2023-2028 strategy and up to US $1 billion in planned investments in energy transition including decarbonization technologies.
- The new strategy marks the convergence of the institution’s evolution and 50-year legacy, positioning it as a pioneering impact investor/fund within the new energy sector.
- The planned investment of up to US $1 billion is part of the institution’s focus on energy transition and decarbonization and related technologies to support the shifting energy landscape towards a net-zero world.
DUBAI, UAE, Dec. 5, 2023 /PRNewswire/ — The Arab Petroleum Investments Corporation (APICORP), a multilateral impact financial institution focused on the MENA energy sector, is embarking on a transformative journey with its visionary 2023-2028 strategy and a new name, signaling a redesigned business approach focused on long-term growth and impact. This strategic shift includes a planned investment of up to US $1 billion over the next five years towards advancing energy transition with a focus on decarbonization and related technologies, announced during COP 28.
The institution’s rebrand as The Arab Energy Fund, aligns with its deep commitment to playing an active role in supporting the MENA’s energy landscape transition towards a net-zero future. This evolved strategy represents the institution’s natural progression as a pioneering impact investor, with focused verticals for investing in the energy sector including decarbonization and related technologies as a key vertical, effectively balancing energy security and sustainability.
Aligned with this strategy, the institution will rebalance its overall portfolio with continued loan growth and an enhanced focus on equity investments while continuing to innovate to expand its range of financing and direct equity solutions and expert advisory services.
During COP 28, where The Arab Energy Fund is showcasing its role as a climate supporter in the Green Zone’s Energy Transition Hub, Khalid Ali Al-Ruwaigh, CEO of The Arab Energy Fund, unveiled the new name and strategy.
He remarked: “APICORP’s (now known as The Arab Energy Fund) transformative strategy marks the institution’s next chapter, deeply rooted in our 50-year legacy and our distinctive role in the MENA energy sector. It highlights our commitment to impact-driven solutions, leveraging our deep industry expertise and regional access to enable the evolving energy landscape towards a net-zero world. Our strategy involves diversifying investments by championing technological advancements for enhanced energy efficiencies and driving sustained decarbonization efforts. Additionally, we are extending our investment scope beyond the core value chain, actively cultivating and shaping value chains within the region.”
He added: “Our new strategy and name signify not only our dedication to empowering the region’s energy ecosystem but also resonate with our mission to create a meaningful impact by promoting economic growth, boosting local value chains and local content, through skill development, and fostering knowledge creation.”
Following the establishment of its green bond framework in 2021, the institution set a precedent in sustainable finance by issuing the first-ever green bond issuance by an energy-focused financial institution in the MENA region. The US-denominated five-year benchmark issuance raised an impressive US $750 million, over US $610 million of which has already been allocated to 11 projects in the region.
Currently, 18% of the institution’s US $4.5 billion existing loan portfolio, is dedicated to supporting environmentally and socially responsible initiatives, fostering collaboration between the public and private sectors, and pioneering a path toward more sustainable financing.
The Arab Energy Fund is also in the process of enhancing its ESG Policy Framework, also introduced in 2021, demonstrating the institution’s strong commitment to incorporating responsible business practices into its operations. This effort reflects the institution’s leadership in shaping a more sustainable and responsible future for all.
As the MENA region’s only multilateral impact financial institution, The Arab Energy Fund is also committed to backing the 2050 net zero commitments made by its member countries. The institution has publicly affirmed the imperative need for collective climate action to align with the significant goals laid out in the UN Paris Agreement.
In line with this commitment, the institution introduced several innovative financial solutions that are considered regional firsts, including its pioneering US $75 million Murabaha facility for voluntary carbon offsets and financing of distributed power portfolios.
The Arab Energy Fund stands among the highest-rated financial institutions in the MENA region, boasting ‘AA’ rating from Fitch, alongside ‘Aa2’ from Moody’s and ‘AA-‘ from S&P. This strong endorsement from the rating agencies and the robust regional support from member countries, along with substantial backing from the region’s energy ministries, underpinned by strong liquidity and credit profiles, positions the institution as a key player in championing a pragmatic and sustainable energy future.
ABOUT The Arab Energy Fund
The Arab Energy Fund – formerly the Arab Petroleum Investments Corporation (APICORP) – is a multilateral impact financial institution focused on the MENA energy sector established in 1974 by the ten Arab oil-exporting countries. The Arab Energy Fund’s mission is to enable a secure and sustainable energy future for the region through a comprehensive range of financing and direct equity solutions and expert advisory services across the entire energy value chain to leading public and private sector business partners in 25 countries. The Arab Energy Fund applies best-practice ESG principles across all operations, with environmental and socially-linked projects comprising 18% of its US $4.5 bn loan portfolio. The Arab Energy Fund is the only energy-focused financial institution in the MENA region rated ‘Aa2’ by Moody’s, ‘AA’ by Fitch and ‘AA-‘ by S&P.
View The Arab Energy Fund’s ESG Policy Framework here.
For more information about The Arab Energy Fund, please visit: www.apicorp.org
Follow us: X, Instagram, Linkedin
Photo – https://mma.prnewswire.com/media/2293108/The_Arab_Energy_Fund.jpg
View original content:
DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/board-the-token2049-treasure-express-with-bybit-and-dive-into-an-80-000-prize-pool-302240594.html
DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-expands-global-reach-receives-formal-consent-for-full-authorization-in-kazakhstan-302240634.html
Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
-
Fintech5 days agoBanking in the United Arab Emirates stands at an inflection point between the traditional branch-based model and a digital AI-enabled future – new Capco survey
-
Fintech PR4 days agoBasware Officially Registered as PDP Service Provider as French Businesses Prepare for Mandatory E-Invoicing
-
Fintech PR3 days agoIMF: Financial and Regulatory Reform Agenda Contributed to Accelerating Saudi Economy’s Growth
-
Fintech PR3 days agoBybit Web3 Kicks off Babylon Season With Unprecedented Access and Rewards, Uplifting Liquidity in BTC Ecosystem
-
Fintech PR3 days agoICEYE and Aon expand collaboration with flood and wildfire data agreement to enhance event response
-
Fintech PR3 days agoPurchase Order Financing Market to Reach $12.9 Billion, Globally, by 2033 at 8.7% CAGR: Allied Market Research
-
Fintech PR3 days agoJamie Mullarkey named Markel’s Global Executive Underwriting Officer for Property and First Party Lines
-
Fintech PR4 days agoQuadrature Climate Foundation surpasses US$1 billion in philanthropic commitments, emphasising strategic, science-led climate action