News » Company news » Evergreen the second shipping firm to launch green bonds

Evergreen the second shipping firm to launch green bonds
Green bonds can mobilize resources from domestic and international capital markets for climate change adaptation, renewables and other environment-friendly projects. They are no different from conventional bonds, their only unique characteristic being the specification that the proceeds be invested in projects that generate environmental benefits, UNDP explained.

As such, Evergreen's bonds, expected to raise $65,7 million, will be focused on solutions for reducing the environmental footprint of shipping operations, with energy efficiency solutions and emission-reduction developments. The bonds mature for five years and have an annual yield of 0.86%.

The subsidiaries of First Financial Holding, First Bank and First Securities, are the underwriters of the bond.

As the global shipping industry emphasizes more and more in emissions reduction and in light of the IMO's 2020 sulphur cap, Evergreen has recently revealed intentions to install scrubbers on 20 new container ships.

source: safety4sea