MANILA, March 4 (Xinhua) -- The Asian Development Bank (ADB) on Wednesday said it has issued a green bond to raise awareness of glacier melt, engaging with investors on ADB's projects and programs that will help communities in Asia become more resilient against the impacts of melting glaciers.
The 100 million-U.S.-dollar, 5-year issue was arranged by BNP Paribas and Morgan Stanley, proceeds of which will be used in accordance with ADB's Green and Blue Bond Framework. The notes will be listed on the Luxembourg Green Exchange.
"Glaciers are among the most critical yet climate-sensitive natural systems in Asia. Their accelerated retreat is reshaping river flows, increasing hazard risks, and threatening the water security and livelihoods of the hundreds of millions of people who rely on mountain rivers for drinking water, agriculture, and energy," said ADB Vice President for Finance and Risk Management Roberta Casali.
Through this green bond, Casali said the ADB is mobilizing global capital to strengthen climate adaptation and water resource management as well as disaster risk reduction in high-mountain regions. ■