18 January 2010: The World Bank and Daiwa Securities Group announced the issuance of green bonds to support projects for low-carbon development, designed specifically for investors in Japan.
“The bond will give Japanese individuals the opportunity of safely investing their money knowing the proceeds will be used to foster projects that are environmentally friendly” said Shigeharu Suzuki, President and CEO of Daiwa Securities Group Inc. World Bank green bonds support World Bank-funded projects that are designed to tackle the causes and consequences of climate change in the developing world. The types of projects that may be supported by these bonds include alternative energy installations, funding for new technologies that reduce greenhouse gas emissions, reforestation, watershed management and flood protection. To date, the World Bank has issued green bonds equivalent to approximately US$960 million. [World Bank Press Release]