UBS wants to implement stricter environmental financing standards. (Photo: Shutterstock.com/TH2I Shutter Rich)
The unsecured green bonds will be issued under UBS’ new green financing framework. Mortgages for real estate with the Swiss Minergie standard serve as the basis.
UBS issued a large unsecured green bond on Wednesday. According to a press release, this includes a €500 million 5-year bond and a CHF 250 million 7-year bond. The launch of these green bonds comes on the heels of the bank’s recent announcement that it will implement stricter green financing standards and reduce greenhouse gas emissions to net zero across all of its businesses by 2050.
The bonds will be issued under UBS’s new Green Finance Framework, which defines a range of appropriate green investments in the form of mortgages for Swiss properties that meet the Minergie standard for low-energy buildings.
The UBS Green Finance Framework is based on the recently updated ICMA 2021 Green Bond Principles. The tire has been inspected by Sustainalytics and certified by the Climate Bond Initiative. In the future, UBS will publish its annual impact report, according to the big bank.
“Alcohol buff. Troublemaker. Introvert. Student. Social media lover. Web ninja. Bacon fan. Reader.”
More Stories
Uber attacks against planned EU platform rules
Re: Brexit and the misery afterwards in the TV show
The US Congress avoids a closure at the expense of Ukraine