Oil report

Germany to issue first "green bond" in second half of 2020 - sources

BERLIN, Dec 18 (Reuters) - The German government plans to tap into the booming market of sustainable finance by issuing its first “green bond” in the second half of next year, three people familiar with the matter told Reuters on Wednesday.

The new type of bond, which will be part of the government’s efforts to roll over maturing debt, will have an issue volume of a high-single digit to low double-digit billion euro amount, the sources said.

A finance ministry spokeswoman declined to comment.

The German debt agency is expected to give more details on its plans to issue its first “green bond” on Thursday when it is scheduled to release the auction calendar for 2020.

The decision follows an agreement by European Union member states reached earlier this month on a new set of rules governing which financial products can be called “green” and “sustainable”.

Under the agreement, all financial products that claim to be green or sustainable will have to disclose exactly what proportion of their investments are environmentally friendly.

Reporting by Michael Nienaber and Rene Wagner Editing by Michelle Martin