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Bank of International Settlements rolls out Asian green bond fund

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TOKYO : The Bank for International Settlements (BIS) launched on Friday a new fund investing in Asian green bonds to help finance projects to combat climate risks in one of the world's most natural disaster-prone regions.Open to central banks across the world, the Asian Green Bond Fund invests in U.S. dol

TOKYO : The Bank for International Settlements launched on Friday a new fund investing in Asian green bonds to help finance projects to combat climate risks in one of the world's most natural disaster-prone regions.

Green bonds are financial instruments that finance environmentally sound projects and provide investors with regular or fixed income payments. "In Asia, there is a strong desire from the central banks to promote the greening of their economies," said Siddharth Tiwari, chief representative of the BIS for Asia and the Pacific region.

Together with two other funds already put in place, the BIS said it will manage a combined $3.5 billion in green bonds.

 

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