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The Hague, May 21
The Netherlands said it was issuing its first “green bond” on Tuesday, becoming the first top-rated country to tap into a growing market for investments in environmental projects.
It is aiming to raise between four and six billion euros ($4.5 billion to $6.7 billion) up to July 2040, according to HSBC, one of the banks handling the operation, although the Dutch government did not immediately give a figure.
“The Netherlands is today the first triple A country to issue a green bond,” Dutch Finance Minister Wopke Hoekstra said on Twitter.
The Dutch finance ministry added: “With green bonds we finance green expenditures and we stimulate the green capital market. A new step towards a greener economy and a greener Netherlands.”
Climate change and the environment are pressing issues for the Netherlands, where at least a third of the country lies below sea level.
Analysts said the Netherlands’ first green bond set a high bar for other countries because of its tough standards.
Green bonds, where governments sell debt specifically earmarked for environmental projects, launched a decade ago but the overall share of green instruments in global finance remains small. — AFP
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