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Bhutan to explore sovereign green bonds as alternative financing
Source: Kuensel
Date: 25 Nov 2022
Bhutan is developing a framework for sovereign green bonds as part of its efforts to finance climate mitigation and adaptation activities. A sovereign green bond is a debt instrument issued by the government with the commitment to use the funds raised to finance eligible green projects. The government issuance of green bonds must align with its priorities, ensure debt sustainability, and require significant coordination among ministries. Bhutan aims to be eligible for green projects in areas like renewable energy, energy efficiency, green buildings, clean transportation, pollution prevention, climate change adaptation, and more. The issuance of green bonds is expected to attract international investment and support green job creation.
Ethiopia, Pakistan agree on joint efforts to curb climate change
Source: Daily Times
Date: 25 Nov 2022
Ethiopia and Pakistan have agreed to collaborate on addressing climate change challenges. During a meeting between Ethiopia’s Ambassador to Pakistan and Pakistan’s Foreign Minister, the two countries discussed enhancing cooperation to tackle climate-related issues like floods and food insecurity. Ethiopia expressed solidarity with Pakistan following recent flash floods and offered support for future climate-related challenges. The two nations also discussed trade and investment opportunities, with Ethiopia offering goods like coffee, tea, and pulses for import and Pakistan offering products such as surgical equipment and textiles for export. Additionally, the opening of direct flights between the two countries was discussed, promoting closer economic and diplomatic ties.
Ecuador, Seychelles, Sri Lanka: The new deals that take from national debt to give to conservation
Source: EuroNews
Date: 27 Nov 2022
‘Debt-for-nature’ swaps could see debt-ridden countries on the brink of default being offered a path to solvency. But there’s a catch: they have to use the money for environmental protection. Deals are in the pipeline for Ecuador, Cape Verde, and Sri Lanka but what would they mean exactly?
