Over the last decade, the European Investment Bank (EIB) has consistently been at the forefront of innovation and transparency in the development of the global green bonds market. Since launching the world’s first green bond in July 2007, EIB has raised over €19bn in climate awareness bonds, making it the largest issuer in this rapidly evolving market. While the use of proceeds for all EIB’s bonds already complies with high environmental and social standards, the bank’s green bonds are issued solely to finance renewable energy and energy efficiency projects. In the last 10 years, EIB’s green issuance has supported more than 160 of these projects in almost 50 countries.
More broadly, the EIB is the world’s largest multilateral financier of climate related investment, providing over €19bn for climate action projects worldwide in the last year alone. In support of the Paris Agreement, EIB has committed to deliver climate finance globally of around €100bn in the five year period to 2020.
Extending the Green Yield Curve
Aside from underpinning the progressive diversification of the market by issuing in 11 currencies, EIB has offered green bonds across an increasingly broad range of maturities. Most recently, for example, it established a notable milestone for the market with the launch of a 30 year €1bn climate awareness bond, which was the longest SSA green bond ever issued. An important source of demand for EIB’s November 2047 ultra-long issue was the fast-growing community of green funds that have played a key role in supporting the growth of the market over the last 10 years.