“The Earth is what we all have in common” by Wendell Berry A Green Bond is a type of debt instrument or fixed-income instrument that is used to raise money primarily for climate and environmental projects.
The inception of the green bond occurred in 2007 when the Intergovernmental Panel for Climate Change(United Nations agency)published a report that linked global warming and human activity.
It prompted several Swedish pension funds to consider financing projects that contributed positively to the environment.
In India, one of the most remarkable projects - the Rampur Hydropower Project has been funded by raising green bonds by the World Bank.
Green bonds aim to encourage sustainability and are backed by the issuer’s balance sheet, therefore carrying the same rating as other debt obligations of the issuer.
Types of Green BondsGreen Bonds were created with a single mindset to have a positive impact on the environment and the proceeds from these bonds are assigned for green projects.
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