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An informal working group of 11 International Financial Institutions (IFIs) has proposed a harmonised framework for impact reporting on projects to which green bond proceeds have been allocated.
Green bonds are bonds floated by entities whose proceeds are deployed in eco-friendly projects.
The 11 IFIs are African Development Bank, Agence Française de Développement, ADB, IBRD, IFC, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Kreditanstalt für Wiederaufbau, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden and Nordic Investment Bank.
In 2014, green bond issuances were over $35 billion, more than three times higher than the $11 billion issued the year before. In 2015, to date, green bond issuances have touched $40 billion.
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