The French government raised $7.5 billion, more than double its planned $3.2 billion, on a 2039 bond to fund energy efficiency, solar roads, biodiversity protection and renewable energy research.
The 1.75 percent, 22-year “Obligation assimilable du Tresor” is one of the longest green bonds ever issued (the World Bank issued a 30-year, €30 million green bond in 2015).
Paris, of course, was the host of the 2015 conference that reached the global climate agreement and is eager to become a climate-finance hub.
Globally, green bond issues totaled $93 billion in 2016 and are expected to more than double again, to $206 billion in 2017, according to Moody’s Investor Services.
Photo credit: Lucerne Hay Bales & Animal Feed Company