Spain is reportedly planning to issue its first sovereign green bond in the coming months following a path traced by other European sovereigns over the past few years.
The Spanish economic daily CincoDías has reported that the Bank of Spain is being asked by some of its market makers to join this ongoing way of financing in the eurozone aimed at mitigating environmental concerns.
Meanwhile, the Netherlands has announced it will be issuing these green bonds in the coming year for an amount of between €3.5bn and €5bn.
France pioneered the initiative in January 2017, which was described by leading fixed income manager Pimco as a milestone for global investors.
Green bonds are a form of financing issued by corporations, agencies and sovereigns with the aim of mitigating environmental concerns.
Since the first green bond was issued in 2007 by the European Investment Bank, the size of the green bond universe has reached roughly €146bn, according to research by Bloomberg.