These ‘use of proceeds bonds’ encourage sustainability through a buyer (a company or government) raising money for environmentally beneficial projects
These ‘use-of-proceeds bonds’ encourage sustainability through a buyer raising money for environmentally beneficial projectsBanks, governments and businesses say financial markets can play a crucial role in driving the shift to a lower-carbon world.
Governments are big players, particularly in Europe. After a flurry of deals in September, this year’s green-bond issuance in the eurozone has already surpassed that of the comparable period of 2021. Companies and governments can use money raised from SLBs for anything, including general corporate purposes. But SLBs are tied to the company’s sustainability targets that it promises to meet.
Companies say their targets are verified by third-party groups and they adhere to voluntary principles set by the ICMA.Highly polluting companies need trillions of dollars to reduce their carbon emissions — far more than they can get from SLBs alone.
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