Moscow To Enter The Green Bond Market For City Eco-Development
Vladimir Efimov, , the Deputy Mayor of Moscow has said that Moscow is preparing to enter the Green Bond market, with the first bond issue planned for this spring.
The proceeds from these bonds will be allocated to finance projects for environmental purposes, including projects aimed at the reduction of negative impact on the environment, conservation of natural resources, and improvement of energy efficiency.
The last time Moscow borrowed from the market in 2013, and since the late 1990s, the capital has placed over 70 bond issues and repaid them successfully. Today, there is one outstanding issue of Moscow government bonds. Placed in 2006, it totals RUB 30 billion and matures in June 2022.
Issuing Green Bonds is just one part of making the Russian capital more co-friendly. Already a green city with plenty of large parks and gardens, Moscow is phasing out all diesel and petrol public transport, aiming to replace all with green alternatives by 2030. Mosgortrans, which runs Moscow’s vast bus and tram network, said its fleet of around 600 electric buses would be expanded by 400 vehicles by end of 2021, followed by another 420 the following year, and then by 855, bringing the fleet to more than 2,000 e-buses by 2023.
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