London Stock Exchange Welcomes IFC’s RMB Green Bond
London Stock Exchange today welcomed IFC to mark the listing of IFC’s first renminbi-denominated green bond. The bond, issued on June 17, raised 500 million renminbi and also sets a precedent as the first green bond issued by a multilateral institution in the offshore Chinese markets.
IFC green bonds support projects to reduce greenhouse gas emissions—for example, by rehabilitating power plants and transmission facilities, installing solar and wind power, and providing financing for technology that helps generate and use energy more efficiently. Criteria for the use of IFC green bond proceeds are certified by Cicero, an independent research center associated with the University of Oslo.
In March, IFC became the first multilateral institution to list renminbi-denominated bonds on the London Stock Exchange, raising 2 billion renminbi from international investors. IFC previously pioneered the international issuance of renminbi-denominated bonds in China (Panda bonds) and Hong Kong (Dim Sum bonds). IFC was also the first to set up a program to regularly issue offshore renminbi-denominated discount notes.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, IFC use its capital, expertise, and influence to help eradicate poverty and boost shared prosperity. In FY13, IFC’s investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org