US announces $500 million green bond

The International Finance Corporation (IFC) has released a $500 million green bond targeting US investors for the first time.

The money has been raised to finance a range of green projects including those in the renewable energy sector. Other projects aim to conserve forests in developing countries where there are risks of over timbering.

Investors include widely recognized organizations including TIAA-CREF and even Californian teacher’s pension funds, another example of the state’s commitment and confidence in a green economy.

Although this is the first green bond issued for the US, countries throughout the Europe and Asia have been investing in green initiatives for some time.

IFC launched the $500 million bond in response to increased demand as US investors are getting more involved in clean energy and climate change projects.