The Monash University climate bond is reportedly a world first for a university. It has been certified by the global Climate Bonds Initiative.
The Clean Energy Finance Corporation (CEFC) is the cornerstone investor in the new bond, with its $20 million commitment.
Over the next two years, Monash University will use the capital raised via the climate bond to invest in a portfolio of clean energy projects.
CEFC debt markets lead Richard Lovell said the investment in the bond “reflects our commitment to work alongside organisations such as Monash to help catalyse further investment options to support clean energy projects”.
“Through our involvement in this climate bond, we are highlighting the potential of this new asset class as an important source of capital for Australian and offshore investors,” Mr Lovell said.
The $20 million investment is the CEFC’s third climate bond investment this year, following earlier commitments to Westpac’s first climate bond and FlexiGroup’s solar PR and renewables climate bond.
Read more:
Mining services sector overvalued: Morningstar
Blockchain's impact ‘won’t happen overnight’
Pressure mounting on bank assets: Moody’s
Tasplan Super launches lifecycle option
Goldman Sachs AM spin-off appoints COO
