GREEN BONDS
A green bond is a type of financial instrument that is specifically responsible for earning money for climate and environmental programs. Green bonds finance projects aimed at energy efficiency, pollution prevention, sustainable agriculture, fishery and forestry, the protection of aquatic and terrestrial ecosystems, clean transportation, clean water, and sustainable water management. Global green bond and green loan issuance reached $257.7B in 2019, marking a new global record.
Kenya Green Bonds Project
Kenya is the most economically advanced country in East and Central Africa.
The Kenyan Constitution recognizes the need for a clean and healthy environment as a basic human right and provides for exploitation, utilization, management and conservation of the environment and natural resources. This is where the green bond market comes in.
The Green Bond Programme will allow domestic banks and corporations to improve the implementation of green investments in Kenya, including projects associated with renewable energy, low-carbon transport, water infrastructure, sustainable agriculture and more.
Panama CIFI
In 2018, Corporación Interamericana para el Financiamiento de Infraestructura (CIFI), a corporation with over 200 projects in 21 countries generating $1.5 billion decided to enter the Panamanian capital market through the issuance of green bonds.
CIFI is preparing for a registration of a bonds issuance program for an aggregate amount of $200 million, expecting to achieve the interest of regional investors.
By contributing to the interest of the Panamanian Stock Exchange, CIFI will promote the capitalization of opportunities and challenges arising for the financial sector and consolidating a joint responsibility mode for environmental management by the different sectors of society.
Works Cited
“About the Sustainable Development Goals.” The United Nations.
“Explaining Green Bonds.” Climate Bonds Initiative, 19 Feb. 2019.
Fatin, Leena. “Green Bond Highlights 2019: Behind the Headline Numbers: Climate Bonds Market Analysis of a Record Year.” Climate Bonds Initiative, 6 Feb. 2020.
Rnjino. “Green Bond Market Launched in Kenya.” Green Bonds Kenya, 20 Feb. 2019.