Brian Hayes MEP today (Monday) welcomed the announcement by the National Treasury Management Agency (NTMA) that it will issue green bonds in the coming months.
“In January 2017 I called on the NTMA and the government to follow in the footsteps of Poland and France and start to issue green bonds. The NTMAs recent commitment to issue Ireland’s first green bond is a welcome step that will not only provide investors with new sustainable investment opportunities but will also send a strong political signal to the markets and EU partners that environmental issues are becoming a national priority for Ireland.
“The green bond market is still in early stages of development but there’s absolutely no doubt that it’s going to become a rapidly growing market in the coming years. Last year the Green Bond market was worth $162 billion, up by more than 400% when the market started in 2014. The Paris Climate agreement means that all governments need to do their part to reduce dependency on fossil fuels.
“Ireland’s climate agenda is in a difficult place at the moment as we are still well off meeting our EU emissions target. While the issuance of a Green Bond will not solve all our problems in this area, it will help to develop more of a domestic green finance market and may help to fund renewable infrastructure projects such as wind farms and biomass projects. Green finance will become a major investment stream into the future so the government must start to put serious effort into its development.”