Asian Development Bank sells green bonds to spur climate change funding
The Asian Development Bank (ADB) sold $1.25 billion of green bonds in a dual-tranche issuance to support its low-carbon and climate resilient projects. The Manila-based lender said on Wednesday that more investors saw the value in the use of the proceeds from the bond issuance for climate change mitigation. “ADB is responding to the rapidly growing demand for green bonds with our second dual-tranche outing and our first 5-year green bond offering,” said ADB Treasurer Pierre Van Peteghem. Earlier this year, the bank urged poor countries to invest in transport, telecommunications, power and water, and sanitation to fight climate change.
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