Earlier this year the International Finance Corporation (IFC) released its annual Green and Social Bond Impact Report. Since its first green bond issuance in 2010, the IFC has continued to issue bonds to facilitate capital investment into the 100 countries in which it operates, ultimately aiming to create jobs whilst raising living standards, particularly for the disadvantaged and vulnerable.
Reporting on its activities throughout the 2023 financial year, the Green and Social Bond Impact Report 2023 stated that since 2010:
🌎 The IFC has issued 198 green bonds in 21 different currencies, raising close to USD$12.6bn;
🌎 This recently included the IFC's first green bond in line with the 'Kangaroo market', a $900m Australian dollar green bond which was oversubscribed to the tune of AUD$1.35bn; and
🌎 To date, issuances have been able to fund 285 projects across various areas including climate adaption, renewable energy, green buildings, waste management and also water and waste-water management.
When altogether combined, these projects have and/or are expected to:
🌎 Reduce greenhouse gas emissions by 28.4m metric tons of CO2 equivalent per year;
🌎 Produce 36.1m Mwh in renewable energy per year;
🌎 Save 869.5m kwh of energy per year;
🌎 Build 9,753 Mwh of renewable energy capacity; and
🌎 Greenify 863,685 sqm of buildings.
With respect to Social Bonds, since 2017:
🌎 The IFC has also issued 88 social bonds in 14 different currencies, raising close to USD$6.1bn;
🌎 To date, issuances have been able to fund close to 299 projects across various areas including gender finance, education, health, housing finance and agribusiness.
The full report can be found here: https://lnkd.in/g6RFh-zH
Despite the strong lead of the IFC, according to the report developing countries will still need between USD$2tn-USD$2.8tn per year by 2030, so to shift low-carbon economies and to protect their populations from the impacts of climate change.
With 80% of this investment required to come from the private sector, Green Bond Corporation Group remains steadfast in its support.
To enquire if Green Bond Corporation Group (including Green Bond Corporation , Carbon Capital Corporation and éthica capital) is able to partner with you and your project be it transition, sustainable, green or blue in nature, please do not hesitate to reach out to the team at https://lnkd.in/ghDgpqJC
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