The International Finance Corporation (IFC) has launched the first New Zealand dollar-denominated Green Kauri bond.
The bond will be minimum NZ$100 million and will be used to finance private sector investments addressing climate change in emerging markets. It is the first green bond for New Zealand. IFC will use the proceeds to fund investments in renewable energy, energy efficiency, and other areas that reduce greenhouse emissions, IFC said. The proceeds from IFC green bonds are allocated within IFC in a separate account and the inclusion criteria for eligible investments are independently verified by the Center for International Climate and Environmental Research-Oslo (CICERO).
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