Tuesday, May 28, 2024

      Subscribe Now!

 

spot_img
spot_img
GreeceGreece contemplating issuing its first green sovereign bond in 2023, PDMA says

Greece contemplating issuing its first green sovereign bond in 2023, PDMA says

Hellenic News of America
Hellenic News of Americahttps://www.hellenicnews.com
The copyrights for these articles are owned by HNA. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of HNA and its representatives.

Latest articles

Greece is contemplating issuing its first green sovereign bond in 2023, the Public Debt Management Agency (PDMA) said in its Funding Strategy for 2023 report on Thursday.

The green bond issuance would support the implementation of its sustainability agenda and enhance PDMA’s funding strategy, it said.

In particular, Greece is committed to reducing greenhouse gas emissions by 55% by 2030 and achieving net-zero by 2050, as outlined in the May 2022 Climate Law. In addition, issuing green bonds can finance the implementation of Greece’ sustainability strategy, which involves public investments.

By issuing Greece’s first green sovereign bond, PDMA intends to do the following, it said:

– Align the state’s financial policy with national sustainability targets by further confirming its commitment to a sustainability agenda and by facilitating the monitoring of progresses made under Greece’s ESG strategy (through regular reporting).

Thanks for reading Hellenic News of America

– Strengthen Greece’s investor base, by addressing institutional investors’ rising ESG standards, and by reaching out to new types of investors.

– Stand at the forefront of Eurozone sovereign issuers, by joining the few Eurozone member states already present on the sovereign green bond market, and by anticipating the growing impetus of credit rating agencies for environment-related assessment criteria.

Greece’s financing needs for 2023 amount to 15.4 billion euros, according to PDMA’s report. Of this, 7 billion euros will be financed by new medium- and long-term bonds, while 4.2 billion euros will be financed by other sources such as RRF, EIB, and so on. In addition, the Finance ministry expects to collect 2 billion euros through privatization receipts.

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

Get Access Now!

spot_img
spot_img