World Bank Agency Raises $750 Million with First-Ever Green Bond in Canadian Funds
The International Finance Corporation (IFC)’s first green bond ever issued in Canadian dollars has generated C$750 million in investment capital, the agency reported earlier this month.
The IFC, an arm of the World Bank, “launched its first green bond placement back in 2010 and has so far issued US$9.5 billion of those securities,” Renewables Now reports. “The lender’s goal is to lift its climate investments to 28% from its own account and mobilize an additional US$13 billion a year in private financing by 2020.”
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In the Canadian offering, organized by BMO Capital Markets, RBC Capital Markets, and Scotiabank, “the five-year financial instruments was met with strong investor demand, with 50% of it coming from Canadian parties,” Renewables Now states. “Funds from the placement will go for climate-related projects, among which will be renewable energy, green buildings, sustainable forestry, and energy efficiency schemes.”