The European Union sold its first ever green bond to record demand, taking its first step to potentially become the biggest issuer of environmentally-friendly debt with a record-sized deal.
The 15-year green bond raised 12 billion euros ($13.9 billion) and received more than 135 billion euros of demand, the European Commission said, making it the largest green bond launch and the highest level of demand for a green bond sale to date.
The bond, which will finance member states' environmentally beneficial projects as part of the bloc's COVID-19 recovery fund, is the first step for the EU - which aims to be carbon-neutral by 2050 - towards becoming a leading force in the fast-growing green debt market.
Thirty percent of the EU's up-to 800 billion euro COVID-19 recovery scheme, which gives grants and loans to member states until end-2026, will fund environmentally beneficial projects.
Up to 250 billion euros of green bond issuance to back that could transform the EU into the world's biggest green bond issuer.
Source: www.reuters.com
No comments:
Post a Comment