CSE to see a host of green bonds next year
View(s):The Colombo Stock Exchange will onboard several green and sustainable bonds next year, top officials said.
These bonds are classified as “innovative financial instruments where the proceeds are invested exclusively in green projects that generate climate or other environmental benefits, The Commercial Bank and Alliance Finance PLC are two entities that will launch their green bonds next year, they added.
At least one more bank is slated to launch a green bond within the first quarter of next year, they further said. “All are waiting for the interest rates to come down further. With the Treasury bills on the downward trend, it is a possibility,” one official said.
DFCC launched Sri Lanka’s first corporate green bond. The issue, which closed just hours after opening, aims to increase renewable power generation from 50 to 70 per cent in seven years.
DFCC Bank’s Green Bond in Sri Lanka has achieved dual listing on the Luxembourg Stock Exchange, marking a significant milestone since its first listing on the Colombo Stock Exchange in September.
The bank is currently trying to expand the framework for the green bonds to accommodate more such issues, officials said. In 2020, DFCC launched a Sustainability Strategy, Sri Lanka’s first bank to do so and became the only entity accredited by the Green Climate Fund (GCF), securing US$ 250 million for climate projects.
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