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Digital Subscriptions > > City of Paris launches its first green bond

City of Paris launches its first green bond

Paris has joined other cities such as Gothenburg and Johannesburg in launching its first green bond, which hit the markets in November just ahead of the UN Climate Change Conference (COP21).

“We started thinking about issuing a green bond about two years ago,” explained Xavier Giorgi, Head of Funding for the City of Paris. “After actively following the growth of the market for a while longer, we decided to go ahead with the issue at the end of 2014.”

The idea was first suggested by the financial department because of the benefits of investor diversification of green bonds compared to non-green bonds. “We were really keen to get investor diversification–it’s become more and more important for us when raising capital,” said Giorgi. The city government was also looking to get better funding rates, and they had seen the costs involved in issuing a green bond decrease.

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