Paving the way towards a sustainable economy and enabling companies to raise debt for green, social and sustainable initiatives within a trusted marketplace, the funds raised through this transaction will be allocated towards green projects in line with the AfDB’s Green Bond Program to support Africa’s transition towards green growth.
“We are very pleased with the successful issuance of our inaugural Green Bond in a private placement format in the South African rank market and recognize Sony Bank’s role in helping the Bank to broaden and diversify its investor base in support of our aim to foster green growth by financing eligible climate projects and working towards achieving the continent’s Sustainable Development Goals (SDG),” Keith Werner, Division Manager for Capital Markets and Financial Operations at the AfDB, stated.
Representing the first such issuance by the AfDB denominated in South Africa’s currency, following successful issuances in U.S. dollars, Swedish krona and the Australian Dollar, Green Bonds are held specifically for climate-related projects and will allow investors the opportunity to demonstrate their support for environmentally responsible ventures on the African continent, such as pollution prevention, improving energy efficiency, developing sustainable agriculture and rolling out green transportation systems, among others.
“With this investment, Sony Bank is pleased to contribute to the achievement of SDGs, as an Environmental, Social, Governance (ESG) responsible investor, and furthermore will strive to contribute to the development of sustainable society in accordance with Sony Financial Group’s ESG investment policies,” stated Gaku Funakoshi, Head of Treasury and Investment Department at Sony Bank.
Contributing significantly towards socioeconomic development in Africa by promoting sustainable innovations, employment and economic growth, the AfDB’s Ten-Year Strategy for 2013-2023 places inclusive growth and the transition to green growth as two of its core objectives.