Cape Town issues green bond
The bond of up to R1bn will be certified by Climate Bonds Standard and will be used to fund projects aligned to the city’s climate change strategy
The City of Cape Town will issue a green bond of up to R1bn, to be certified by the Climate Bonds Standard. Green or climate bonds are issued by governments or companies to finance measures to mitigate or adapt to climate change. Johannesburg became the first municipality in SA to do this in 2014, when it listed a R1.46bn green bond on the JSE. Cape Town has developed a Green Bond Framework, in which it identified a suite of eligible projects to fund with the proceeds of the bond. The projects are a mix of adaptation and mitigation initiatives, all of which are aligned to the city’s climate change strategy. They include procurement of electric busses; energy efficiency in buildings; water management initiatives, including water meter installations and replacements, water pressure management, upgrades to reservoirs, sewage effluent treatment, and rehabilitation and protection of coastal structures. Cape Town mayor Patricia De Lille said this week: "While the projects earmarked for fu...
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