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EBRD raises USD 700m from climate resilience bond

Photo: EBRD

September 24 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) has raised USD 700 million (EUR 363.6m) from the issuance of a dedicated climate resilience bond.

With BNP Paribas S (EPA:BNP), Goldman Sachs Group Inc (NYSE:GS) and Skandinavska Enskilda Banken AB (STO:SEB-A) acting as joint bookrunners, the four-year bond attracted demand from around 40 investors in 15 countries, the EBRD said Friday.

The proceeds from the issuance will be used to fund the EBRD’s existing and new climate resilience projects that are in line with the Climate Resilience Principles, a guide to sustainable investing published recently by the Climate Bonds Initiative (CBI).

The bank said that projects that stand to receive financing fall into categories of: climate-resilient infrastructure, including water, energy and transport, among others; climate-resilient business and commercial operations; and agriculture and ecological systems.

According to the CBI, green bonds worth a total USD 161.8 billion were issued so far in 2019. This figure excludes bonds that are labelled green but are not in line with the CBI definitions.

(USD 1.0 = EUR 0.91)

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Sladjana is the newest addition to the Renewables Now team. She has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry.

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