New Zealand Sovereign Green Bond Programme launched
Further to today’s announcement from Minister of Finance Hon Grant Robertson and Climate Change Minister Hon James Shaw, New Zealand Debt Management is publishing the Framework setting out how the Government plans to finance or refinance climate and environmental expenditures through the issuance of New Zealand Sovereign Green Bonds.
The Framework sets out the Government’s climate change mitigation and adaptation, and environmental priorities. It also outlines the basis for identifying, selecting, managing, and reporting on expenditures financed with Green Bonds. It has been developed in consultation with joint structuring advisors Bank of New Zealand and Deutsche Bank AG, Sydney Branch.
Internationally recognised Second Party Opinion provider Sustainalytics assessed the Framework as robust, transparent, credible and impactful. In its opinion, Green Bonds issued under the Framework are expected to advance the Government’s efforts in low-carbon development and generate positive environmental impact in New Zealand.
Subject to market conditions, the inaugural issuance of New Zealand Sovereign Green Bonds is expected in late 2022, via syndication. Alongside Nominal Bonds and Inflation-Indexed Bonds, Green Bonds are expected to be an important and enduring part of the New Zealand Government Bond portfolio.
Further information on the Green Bond Programme, including the investor presentation, is available at the New Zealand Debt Management website.
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