MANILA, Philippines – The Asian Development Bank has raised $232.2 million from the sale of the so-called Clean Energy Bonds to support its renewable energy and energy efficiency projects in the Asia Pacific region.
"The healthy sale of the Clean Energy Bonds shows a clear desire among Japanese investors to see funds committed to clean energy projects that will help improve the environment but ensure sustainable growth in the region,” said ADB treasurer Thierry de Longuemar, in a statement.
The bonds that were issued comprised of four tranches, namely the four-year bonds denominated in Australian dollars; four- and seven-year bonds in Brazilian real; and seven-year bonds in Turkish lira. The transaction was managed by the HSBC Securities (Japan) Ltd. and the bonds were distributed by more than 20 securities.
This fundraising formed part of the Manila-based lender's energy policy to roll out $2 billion a year in clean energy investments for the region starting 2013, focusing particularly on renewable energy projects such as biomass, wind, solar, hydro, and geothermal as well as on energy efficiency projects in industrial, commercial and residential sectors.
Through its clean energy program, ADB targets to help the region meet its energy security needs, facilitate a shift to a low-carbon economy, and ensure everyone in the region has access to energy.
Between 2005 and 2009 alone, ADB’s total clean energy investments have already exceeded $5 billion.
“Clean energy is a crucial element in the fight against poverty in Asia and the Pacific. To put the region on a path to sustainable and inclusive economic growth, we are committed to supporting clean energy projects in the region that avoid harming people or the environment,” said ADB president Haruhiko Kuroda.
The rapid economic expansion in the Asia-Pacific region has begun putting immense pressure on global resources and the environment. The use of coal and oil and other carbon-based fossil resources to meet the region’s growing energy needs has added to the release of greenhouse gases that contribute to global climate change.
At the same time, insufficient energy investment in the region is preventing many developing countries like the Philippines, as well as individuals from reaching their full potential.
According to the ADB, a quarter of the population of Asia Pacific – or about 800 million people – still have no access to basic electricity services, while some 1.8 billion people continue to rely on traditional biomass fuels for cooking and heating.
"The healthy sale of the Clean Energy Bonds shows a clear desire among Japanese investors to see funds committed to clean energy projects that will help improve the environment but ensure sustainable growth in the region,” said ADB treasurer Thierry de Longuemar, in a statement.
The bonds that were issued comprised of four tranches, namely the four-year bonds denominated in Australian dollars; four- and seven-year bonds in Brazilian real; and seven-year bonds in Turkish lira. The transaction was managed by the HSBC Securities (Japan) Ltd. and the bonds were distributed by more than 20 securities.
This fundraising formed part of the Manila-based lender's energy policy to roll out $2 billion a year in clean energy investments for the region starting 2013, focusing particularly on renewable energy projects such as biomass, wind, solar, hydro, and geothermal as well as on energy efficiency projects in industrial, commercial and residential sectors.
Through its clean energy program, ADB targets to help the region meet its energy security needs, facilitate a shift to a low-carbon economy, and ensure everyone in the region has access to energy.
Between 2005 and 2009 alone, ADB’s total clean energy investments have already exceeded $5 billion.
“Clean energy is a crucial element in the fight against poverty in Asia and the Pacific. To put the region on a path to sustainable and inclusive economic growth, we are committed to supporting clean energy projects in the region that avoid harming people or the environment,” said ADB president Haruhiko Kuroda.
The rapid economic expansion in the Asia-Pacific region has begun putting immense pressure on global resources and the environment. The use of coal and oil and other carbon-based fossil resources to meet the region’s growing energy needs has added to the release of greenhouse gases that contribute to global climate change.
At the same time, insufficient energy investment in the region is preventing many developing countries like the Philippines, as well as individuals from reaching their full potential.
According to the ADB, a quarter of the population of Asia Pacific – or about 800 million people – still have no access to basic electricity services, while some 1.8 billion people continue to rely on traditional biomass fuels for cooking and heating.
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