CSE to launch $50 m green bond
The Colombo Stock Exchange (CSE) is set to launch a US $50 million green bond, as per top sources.
The necessary legislation and structures have already been put in place for this initiative. The bond is planned to be floated on the exchange similar to an initial public offering. However, the delay is due to the absence of suitable projects to engage with, according to officials. The exchange will be on the lookout for small renewable energy projects, and Deutsche Bank is reportedly involved in structuring the issuance.
Now that debt sustainability has been reached, it is important to note that the Green Bond Framework has been designed to support the country in the short term and long term, by providing a framework that can be utilised for debt restructuring and for the long term to raise green finance.
In addition to launching green bonds, the market operator intends to introduce other green financial instruments in collaboration with related agencies. This move aligns with the country’s climate policy efforts. The CSE plans to work with organisations such as the Ceylon Chamber of Commerce and the Investment Promotion Ministry to introduce climate-related instruments.
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