First it is important to define what a “green bond” is. “A green bond is a bond specifically earmarked to be used for climate and environmental projects. These bonds are typically asset-linked and backed by the issuer's balance sheet, and are also referred to as climate bonds.” [1] They are : “…designated bonds intended to encourage sustainability and to support climate-related or other types of special environmental projects. More specifically, green bonds finance projects aimed at energy efficiency, pollution prevention, sustainable agriculture, fishery and forestry, the protection of aquatic and terrestrial ecosystems, clean transportation, sustainable water management and the cultivation of environmentally friendly technologies.” [2] Just before Easter there was huge news in the Australian financial markets a retail group had closed a AUD 400m (USD 300m) green bond issue 4 times over subscribed – Wow! Woolworths Group (ASX:WOW) proposes to use the funds raise...
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