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Blockchain platform issues first digital green bond

The European Investment Bank (EIB) has issued its first digital green bond on a blockchain-based platform developed by SEB and Credit Agricole.

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Blockchain platform issues first digital green bond

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The so|bond platform, developed specifically for the issuance of digital bonds, was launched in April by the two banks.

The EIB’s Climate Awareness Bond, which is worth SEK1bn (US$92.7m), is the first to be issued on the platform.

Proceeds will be used for lending to climate-related projects.

The platform’s green credentials are further enhanced by a validation logic that promotes low energy consumption and a rewards system that encourages affiliated banks to improve their carbon footprint.

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