The International Finance Corporation (IFC) has issued its first inaugural Indonesian Rupiah Komodo Green bond estimated at $134 Million to reduce the effect of Climate Change.
The five-year Green Bond which will be listed on the London Stock Exchange(LSE) and Singapore Stock Exchange (SSE) proceeds will be used in line with the Green Bond Principles.
According to IFC’s Vice President, the bond will allow for mobilisation of Indonesia’s Climate Friendly Projects. The bond has fortunately attracted more investors than initially envisaged thus representing a high level of success.
The bond which was released today has already issued 32 Green Bonds cumulating into $1.8 Billion in Total.
The investment is expected to reduce the emission of greenhouse gas on an annual basis by 6.3 Million Metric tonnes.
Image Credit: World Bank Group