September 7, 2018 / 1:13 PM / 16 days ago

Ireland says it will issue first 'green bonds'

DUBLIN (Reuters) - Ireland is to issues its first “green bonds” in the coming months, raising money for projects with environmental benefits, the National Treasury Management Agency (NTMA) said on Friday.

The announcement follows the approval by government of a framework for the issuance of green bonds, whose proceeds are to be allocated against eligible projects in areas like climate change mitigation, wastewater treatment and reducing air pollution.

The framework “clears the way for the NTMA to open up a new funding channel for climate change action,” Finance Minister Paschal Donohoe said in a statement.

The NTMA said it will hold a roadshow for investors in the coming weeks to explain the bonds, but it did not say when the first issuance would take place.

Reporting by Conor Humphries; Editing by Catherine Evans

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