France celebrates massive green bonds issue
(24 January 2016 – France) France has issued a record €7 billion (A$9.9 billion) in green treasury bonds, a boost to efforts to generate investment in clean energy.
As the French government celebrated the higher than expected demand for the bond issue, the country’s President, Francois Hollande called on others to follow its example.
The 22-year bonds that will go exclusively toward green energy spending were sold to banks, insurers and other institutional investors at a 1.75 percent interest rate, comparable to classic government bonds for the same period.
Hollande's government has championed green bonds since hosting the 2015 Paris Agreement, which aims to fight global warming by reducing carbon emissions and investing in renewable energy.
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