September 13 (SeeNews) - Serbia's government adopted the Green Bond Framework, gaining access to global Environmental, Social, and Governance (ESG) capital markets, the finance ministry said.
The framework document provides assurance to investors that the funds obtained through the issue of green bonds will be used to finance green projects, the finance ministry said in a statement last week.
The green bond market has seen enormous growth in recent years thanks to increasing investor awareness of the climate and demand for investment in this type of securities. The Green Bond Framework Document will support this initiative, expand the investor base and help Serbia raise awareness of the importance of sustainable financing, the finance ministry said.
In June, the government established an interdepartmental working group to prepare the framework document in accordance with the standards of the International Capital Market Association (ICMA).