Fiji issues first developing country sovereign green bond of $50 million for climate resilience
Fiji has become the first emerging market to issue a sovereign green bond after it raised 100 million Fijian dollars to finance climate mitigation and adaptation projects. At the request of Fiji’s Reserve Bank, the World Bank and the International Finance Corporation (IFC) provided technical assistance to support the Government in issuing their first sovereign green bond.
Sustainalytics US, an environmental consultancy, evaluated Fiji’s Sovereign’s green bond transaction and its alignment with the Green Bond Principles. The green bond will primarily be used for climate resilience, but also on renewable energy projects supporting the nation’s commitment to reduce carbon emissions from the energy sector by 30 percent by 2030. The bond has two maturity dates with a tenure of 5 years and 13 years (...)
Original source: Climate Action Programme