The Australian government will issue its first-ever green bond in 2024 following an announcement by Treasurer Jim Chalmers.
According to ESG Today, the plans for the upcoming green bond offering was made at the government’s Investor Roundtable, which was hosted by Chalmers and included investors representing more than $2trn in assets.
Chalmers – who is minister for climate change and energy – added that the new green bond program will help support investors to back public net-zero focused projects, attract more green capital to Australia and help boost the scale and credibility of the country’s green finance market.
The green bond program is anticipated to begin in mid-2024, following the development of a Green Bond Framework.
Alongside the plan, the government also outlined a number of commitments aimed at advancing the development of a sustainable finance market, including support the development of a sustainable finance taxonomy and efforts to tackle greenwashing.
Furthermore, the Australian government said it will provide over $4m in funding to Australian Securities and Investments Commission to expand its surveillance and enforcement functions to crack down on greenwashing.
Earlier this year, the Reserve Bank of India said it planned to raise $2bn in its first-ever green bond offering to support green infrastructure projects in the country.
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