Trading started on the London Stock Exchange this morning, with the dual-tranche green bond transaction including a FJ$20 million (£7m) tranche which will mature in 2022 at a return of 4% and a FJ$40 million (£13.8m) tranche to mature in 2030 at a return of 6.30%.
Proceeds from the green bond will be used to finance the sustainable management of natural resources, renewable energy, water and energy efficiency as well as clean and resilient transport and wastewater management.
Frank Bainimarama, Prime Minister of Fiji and President of COP23 said: “With this bond, we have shown it is possible for emerging markets to develop financing mechanisms that are innovative, credible and transparent and which align with global standards.
“We hope this bond serves as an example to other climate-vulnerable nations in finding innovative ways to raise finance for adapting to the impacts of climate change.”
UK Energy and Clean Growth Minister Claire Perry said the launch of the green bond provides a “ringing endorsement” that London is the place to raise finance for climate resilience and mitigation in all sizes of market across the globe.