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BIS Launches Euro-Dominated Green Bond

Green Bond
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EDITOR NOTE: The Bank of International Settlements--the central bank of central banks--just launched a euro-denominated “green bond” following the dollar-denominated issuance that was launched in 2019. Green bonds are fixed-income instruments designed to raise capital for projects with ecological benefits (like combating climate change). Of course, if you choose to invest in such bonds to support the environment, you’ll have no say in the investment, meaning that you won’t be able to discern which companies will be receiving the fund, which companies might put the money to good use, and which ones may end up “malivesting “ (wasting) the funds (think: Obama’s failed Solyndra investment). And if central banks like the ECB choose to invest their own money into the fund, considering that their income is generated through government treasuries which in turn is partly derived from taxing citizens or debasing currency, then people are essentially coerced into investing “green” even if they don’t agree with the position. Just another example of how the government takes money from citizens who should have the right to do with it as they best see fit.

The Bank for International Settlements (BIS) said on Monday that it has launched a euro-denominated, open-ended fund for green bond investments by central banks and official institutions.

This follows the launch of a first BIS green bond fund denominated in U.S. dollars in September 2019.

Together, the two BIS green bond funds will manage some $2 billion in green bonds for central banks with the expectation that the funds will continue to grow considerably, the BIS said in a press release.

Separately, the European Central Bank said it would invest some of its own funds in the BIS' new green bond funds as part of its push to support the fight against climate change.

Green bonds are a growing category of fixed-income securities that raise capital for projects with environmental benefits. Issuance of such bonds globally reached a record high of $269.5 billion by the end of last year, according to the Climate Bonds Initiative.

Originally posted on Yahoo! Finance

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