Mauricio Claver-Carone

IDB President, Mauricio

Claver-Carone

washington, dc

The Inter-American Development Bank (IDB) Monday said it would virtually launch the Green Bond Transparency Platform (GBTP), an innovative digital tool that brings greater transparency to the Latin America and the Caribbean green bond market.

The virtual launch will take place on April 27, and will be done in collaboration with IDB Invest, a member of the IDB Group, which is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector.

The IDB said the user-friendly platform facilitates harmonised reporting by issuers, verifications and validation by external reviewers, and informed decision-making by investors.

It said by utilising the online, open access platform, issuers and external reviewers upload relevant data on each bond’s environmental performance and use of proceeds in a standardised and comparable format.

All users benefit from unrestricted data access due to donor resources by the German Ministry of Environment’s International Climate Initiative (IKI) and resources by the Swiss State Secretariat for Economic Affairs (SECO).

The online, public good platform supports IDB and IDB Invest’s efforts to scale up the green bond market in the region and helps governments, financial institutions and companies to access the financing they need to tackle climate change and make environmentally sustainable investments.

The GBTP has been tested in collaboration with leading standard setters, issuers, external reviewers, underwriting banks, stock exchanges, and emerging market investors,” the IDB said.

It added that the launch will include opening remarks by IDB President, Mauricio Claver-Carone, Climate Bonds Initiative chief executive officer, Sean Kidney, and a panel discussion with IDB and IDB Invest experts. —CMC

What Is a Green Bond?

A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects. These bonds are typically asset-linked and backed by the issuing entity’s balance sheet, so they usually carry the same credit rating as their issuers’ other debt obligations.​

Dating back to the first decade of the 21st century, green bonds are also referred to as climate bonds.

Green bonds finance projects are aimed at energy efficiency, pollution prevention, sustainable agriculture, fishery and forestry, the protection of aquatic and terrestrial ecosystems, clean transportation, clean water, and sustainable water management. They also finance the cultivation of environmentally friendly technologies and the mitigation of climate change.

RECOMMENDED FOR YOU

AMERICAN aircraft manufacturer Boeing has branded one of its Max 8 aircraft with Caribbean Airline’s (CAL) logo.

The image was captured and circulated on social media.

With its contract for 12 Max 8 aircraft from the Chicago-based manufacturer still in effect, CAL told the Sunday Express on May 7 by e-mail

THE Confederation of Regional Business Chambers says, while it’s commendable the Central Bank is making it easier for financial institutions to reintroduce loan deferrals and interest rate reductions for customers, it’s unclear how the interest rate reduction will be applied.

The Central Bank is making it easier for financial institutions to reintroduce loan deferrals and interest rate reductions for customers who are facing hardships as a result new measures introduced as a result of the spike in Covid-19 cases and deaths.

RUM and bitters producer, Angostura Holdings Ltd, yesterday reported a 45.5 per cent increase in its after-tax profit, for the first quarter of its 2021 financial year.

Angostura profit for the period ending March 31, 2021, was $19.06 million, which was 45.5 per cent higher than the $13.09 million the Laventille-based manufacturer reported for the same period in 2020.

MAJORITY State-owned National Flour Mills (NFM) yesterday reported a 62.4 per cent decline in its after-tax profits for the first quarter of its 2021 financial.

NFM’s after-tax profit for the three months ended March 31, 2021 totalled $2.63 million, down from $7.01 million the grain miller reported in 2021.

WEST INDIAN Tobacco recorded after-tax profit of $91.4 million for the first three months of its 2021 financial year, which was 12.8 per cent lower than for the same period in 2020.