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On July 5th 2007 the European Investment Bank (EIB) issued its inaugural Climate Awareness Bond ("CAB") – the world's first green bond. The global green bond market has since surpassed the threshold of € 1.5tn in cumulative issuance and is supplemented by around € 720bn of social and sustainability bonds.
Green, social and sustainability bonds with dedicated use of proceeds – like the EIB's Climate Awareness Bonds and Sustainability Awareness Bonds – enable investors to track the flow of their funds to the sustainable economy, promoting transparency, accountability, reliability and comparability in sustainable finance.
Proceeds from CABs are allocated to projects that contribute substantially to climate change mitigation, currently in the fields of...
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