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Guidance for Sovereign Green Bond Issuers : With Lessons from Fiji's First Emerging Economy Sovereign Green Bond / International Finance Corporation.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- International Finance Corporation.
- Series:
- Other papers.
- World Bank e-Library.
- Other papers
- Language:
- English
- Subjects (All):
- Adaptation to Climate Change.
- Climate Change.
- Climate Change and Environment.
- Climate Change Mitigation and Green House Gases.
- Debt.
- Debt Markets.
- Environment.
- Finance and Financial Sector Development.
- Green Issues.
- Public and Municipal Finance.
- Public Sector Development.
- Local Subjects:
- Adaptation to Climate Change.
- Climate Change.
- Climate Change and Environment.
- Climate Change Mitigation and Green House Gases.
- Debt.
- Debt Markets.
- Environment.
- Finance and Financial Sector Development.
- Green Issues.
- Public and Municipal Finance.
- Public Sector Development.
- Other Title:
- Guidance for Sovereign Green Bond Issuers
- Place of Publication:
- Washington, D.C. : The World Bank, 1905.
- System Details:
- data file
- Summary:
- A sovereign green bond presents countries with an opportunity to demonstrate national leadership in the green financing agenda while giving exposure to a new investor base and solidifying a country's commitment to complying with the Paris Climate Change Agreement. While green bonds allow sovereign issuers to appeal to a new class of investors, domestically or internationally, in addition to the usual costs associated with the preparation of a vanilla government bond, green bonds require upfront and ongoing resources that are not recoverable through bond proceeds. Many potential investors need to be educated on the benefits of a green bond, for themselves and the country. Studies have shown an increasing number of millennials are attracted to investments that will have a positive environmental impact, making it a wise choice for retail issuances and institutions whose customer base will increasingly include millennials. Clearly identifying the reasons for issuing will drive many decisions in the issuance process. If a country's motivation to issue a green bond is prompted by a desire for cheaper financing compared to a vanilla issuance, then caution should be exercised. While it has been suggested they may have the potential to attract a pricing premiu.
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