Basel: Canton issues another Green Bond
The canton of Basel-Stadt has issued a Green Bond for the second time. The bond had a volume of CHF 200 million and is intended to finance environmentally sustainable construction projects.
The first Green Bond was issued by the Canton of Basel-Stadt in September 2018. The second issue also "met with gratifying demand despite a challenging market environment," the canton says.
The proceeds will be used to finance projects that contribute to climate and environmental protection. According to a statement, the canton intends to use the second Green Bond to finance the renovation of the BVD's properties on Münsterplatz, the construction of a new residential home for adults with disabilities on Belforterstrasse, the renovation and new construction of the College of Design, the conversion of Spiegelhof and the Operations Center, as well as the renovation of the Münster Primary School and the Basel Technical College. Together with the proceeds of the first Green Bond issue, eleven sustainable projects have been financed.
Basel-Stadt is only the second canton, along with Geneva, to issue Green Bonds, the statement continues. The independent auditing company ISS-oekonom has confirmed compliance with the internationally recognized "Green Bond Principles". (ah)
