September 13 (Renewables Now) - Ireland is getting ready to launch its first green bond issuance in the coming months, according to recent official announcement.
The country’s National Treasury Management Agency (NTMA) said it will meet with potential investors on a roadshow in the coming weeks. It did not disclose further details about the planned transaction.
The bond will be issued under the Irish sovereign green bond framework that was recently approved by the government. Funds from the placement will go towards green projects addressing climate change mitigation and adaptation, water and natural resources depletion and the reduction of air pollution.
“The NTMA’s strategy is to expand our investor base by geography, investor type and product. The issuance of Green Bonds enables Ireland to access a new and growing pool of capital,” said Frank O’connor, NTMA’s director of funding and debt management.
Through the issue, Ireland will follow the example of Poland, which became the world’s first sovereign issuer after in December 2016 it raised EUR 750 million (USD 872m) from selling five-year green bonds. Other European countries that have issued such financial instruments are France and Belgium.
(EUR 1.0 = USD 1.163)