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BIS launches new fund to nurture Asia green bond market -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Basel, Switzerland is home to the tower that houses the Bank for International Settlements’ headquarters (BIS). It was taken March 18, 2021. REUTERS/Arnd Wiegmann

4. Corrects BIS, and not Bank of Japan as the fund creator,

By Leika Kihara

TOKYO (Reuters), – The Bank for International Settlements announced on Thursday that in early 2022 it will create a fund to redirect global central bank reserve funds to green projects within the Asia Pacific region.

In a statement, the BIS stated that this new fund called Asian Green Bond Fund would allow central banks access to bonds issued by corporates and sovereigns in compliance with strict international environmental standards.

According to the statement, “The fund will closely work with the Asian Development Bank (ADB), other development financial institutions, as well as other issues.”

Two other green bond funds have been launched by the BIS over the past 2 years. This demonstrates the increased support given to climate change mitigation efforts by central banks.

One of the Bank of Japan’s symbolic moves to increase awareness about green finance was to buy green bonds with its foreign reserves in July.

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