World Bank touts ESG bond it says is ‘immune’ to greenwashing

The proceeds of the five-year bond will be used to support the World Bank’s sustainable development activities globally. Investors of the bond will forgo regular coupon payments. — Reuters

NEW YORK: The World Bank has raised US$50mil (RM222mil) through a bond structure it describes as unique and free from greenwashing – a growing concern among investors – and says it is lining up more of these deals for later this year.

The proceeds of the five-year bond will be used to support the World Bank’s sustainable development activities globally. Investors of the bond will forgo regular coupon payments.