The World Bank has launched its first environmental structured product, a €50 million, 10-year green bond linked to the Ethical Europe Equity Index. The note was arranged by BNP Paribas (BNPP) and has been bought by the bank's insurance unit, BNP Paribas Cardif. The index is managed by Solactive.
Green bonds are a relatively new addition to the bond markets, having been established in the past 18 months, although green indexes have been in development for far longer. The combination of these two