3 June 2019: The World Bank (International Bank for Reconstruction and Development, IBRD) and Okasan securities have launched a Sustainable Development Bond to raise awareness for food loss and waste in Japan. The three-year bond is aimed at supporting SDG target 12.3, on food waste and loss. Designed for Japanese retail investors, the bond is denominated in RUB.

With one third of the food produced globally lost or wasted every year, resulting in USD 1 trillion in economic losses per year, while more than 800 million people suffer from hunger globally, SDG target 12.3 aims to halve per capita global food waste at the retail and consumer levels and reduce food losses along production and supply chains, including post-harvest losses, by 2030. Food loss and waste also is the third-largest emitter of greenhouse gases (GHGs).

The World Bank issues Sustainable Development Bonds in the international capital markets to support financing of sustainable development projects in developing countries. The projects focus on poverty reduction and inclusive growth in the areas of agriculture, education, health care and social services, environment and gender.

Through the sale of Sustainable Development Bonds, Okasan Securities reports that is aims to promote environmental, social and governance and socially responsible investing while also contributing to the SDGs. [World Bank Press Release]