The Bank for International Settlements (BIS) announced that central banks and government agencies have created a fund in euros for investments in green bonds.
In the statement made by BIS, it was recalled that the first dollar-based BIS green bond fund was launched in September 2019.
It is now claimed that central banks and official institutions have launched an open euro fund for investments in green bonds, and it is noted that BIS will manage approximately $ 2 billion in green central bank bonds in $ 2 and green bond funds based In euros.
It was noted that these funds are expected to grow significantly and that the BIS will continue to support environmentally friendly investment and finance practices.
THE ECB WILL ESTABLISH A CENTER FOR CLIMATE CHANGE
In the statement made by the European Central Bank (ECB), it was stated that the ECB will use a portion of its own fund portfolio to invest in the BIS’s green bond funds to support the fight against climate change.
“The ECB will use part of its fund portfolio to invest in central bank euro-based green bond funds issued by the BIS,” the statement read.
In the statement, the BIS green fund invested in renewable energy production and energy efficiency projects, “This step (investing in BIS funds) shows the ECB’s contribution to the EU’s environmental and climate goals,” used the statement.
Christine Lagarde, President of the ECBIn his speech at the conference on “Green Central Banking”, he stated that the ECB will establish a climate change center to explore the best ways to bring climate change issues into the scope of the ECB’s monetary policy and banking supervision.
To the Climate Bonds Initiative (Climate Bonds Initiative-CBI), green bond issuance reached a record high in late 2020 with $ 269.5 billion.
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