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IFC Crosses $10 Billion Threshold For Green Bond Issuance

Date 19/09/2019

IFC, a member of the World Bank Group, today crossed the $10 billion threshold in cumulative green bond issuance, after a trade with Japan’s Government Pension Investment Fund, GPIF.

The issuance, arranged by HSBC Bank plc, increased IFC’s outstanding pound sterling green bond line by 100 million pounds, amid increased interest from Asian investors, notably asset managers at GPIF.

Proceeds will go to private sector projects in renewable energy and energy efficiency, green buildings, green banking, solar and wind energy.

John Gandolfo, IFC VP and Treasurer said: “Today is a landmark for IFC and sustainable finance as we break through the $10 billion mark for our green bond issuance. We have been one of the earliest issuers of green bonds, launching a green bond program in 2010 to help catalyze the market and unlock capital from the private sector to fund climate-smart projects.”

Hiro Mizuno, Executive MD and CIO of GPIF said: “Congratulations on your achieving this milestone of crossing $10 billion for green bond issuance. IFC is a leading issuer of green bonds and a valuable partner for GPIF to promote sustainable finance. We will continue to work together toward a greener world.”

Thierry Roland, Head of Global Banking and Markets, Europe at HSBC said: "Today's Sterling tap for IFC marks a very important milestone in the sustainable financing market, taking the total green financing raised by IFC to over $10 billion. IFC is one of the pioneers in sustainable financing, and has long been an innovator in this market. HSBC is proud to have been involved in this transaction, which also highlights our own commitment to sustainability."

In 2013, IFC issued the first $1 billion benchmark green bond followed by another $1 billion green benchmark, helping transform the market. Before 2013, the public green bond market was mainly in private placement format through smaller sized bonds and today, annual issuance for this year is projected to reach over $200 billion.

Since 2010, IFC has issued a total of 157 green bonds, including today’s transaction, amounting to $10.065 billion. 

In April 2019 GPIF and the World Bank Group took further steps to promote ESG integration into fixed income investment as a follow-on initiative to the joint research "Incorporating Environment, Social and Governance (ESG) Factors into Fixed Income Investment" published at the 2018 World Bank Spring Meeting.