Brussels is to issue its first Covid-19 green bond as part of its efforts to become the world’s biggest issuer of sustainable debt.
The European Commission on Tuesday said it would tap debt markets for a sale of green bonds in October, raising funds for environmentally friendly reforms and investment in EU member states as part of the union’s pandemic recovery effort.
The issue will be the first of an expected €250bn of EU green bonds, making up about 30 per cent of the bloc’s €800bn Covid-19 recovery fund. “This will make the EU the largest green bond issuer in the world, and foster investments and innovation,” said Johannes Hahn, EU budget commissioner.
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