Hungary Updates Green Bond Framework

Published on:
by KnowESG
KnowESG_Hungary enhances green bond framework
Image courtesy of Freepik

The Government Debt Management Agency (ÁKK) has announced the publication of an updated Green Bond Framework to ensure issues are in line with best market practices and more stringent investor expectations amid a "significant transformation" on the sustainable finance market, according to a report by state news wire MTI.

The new Green Bond Framework is based on the Green Bond Principles 2021 published by the International Capital Markets Association (ICMA) while taking into consideration provisions of the European Union Taxonomy and upcoming Green Bond Standard, as well as building on the 2022 edition of the Japanese Ministry of Environment Green Bond Guidelines and the China Green Bond Principles.

Morningstar Sustainalytics was engaged to provide an independent second-party opinion on the Green Bond Framework.

Hungary's future green bond issuance will be used to finance or refinance central government expenditures in the green categories of clean transportation, land use and living natural resources, energy efficiency, renewable energy, pollution prevention and control, sustainable water and wastewater management, climate adaptation, and research, innovation, and awareness raising.

Hungary has issued HUF 1.6 trillion of green bonds on domestic and international markets since publishing its initial Green Bond Framework and issuing its first green bond in 2020.

For more sustainable finance news

Source: Budapest Business Journal

Share:
esg
esg
esg
esg

Sustainable Finance Headlines

Meralco Invests P100B in Green Energy

Meralco Invests P100B in Green Energy

Greenomy, SIX Partner on SME Sustainability Assessment

Greenomy, SIX Partner on SME Sustainability Assessment

CITIC Bank Opens 1st ESG Branch in Hong Kong

Green Bond Market Heats Up Despite Transition Wobble

United's Sustainable Flight Fund Soars to $200M+

Trillion Dollar Boost for Green Projects in 2024

Velocys Raises US$40m for Sustainable Aviation Tech

Examining PFS Insights on Sustainable Finance

Schroders Greencoat Launches UK's 1st LTAF

Malakoff Gets 'Gold' For Sustainable Finance Framework