Thessaloniki gets ready for its metro launch in November
The underground rapid transit lines have been under construction for almost two decades due to various project delays
This move will open green and social public projects to wider investments
Last week, Berlin authorities announced the launch of sustainability bonds, linking the private investment market with the city’s social and green initiatives. The planned issue volume for the first round of bonds will be 750 million, with each bond costing 1,000 euros.
The city of Berlin is only the second German state to create sustainability bonds, after North Rhine-Westphalia. Finance Senator Daniel Wesener explained that for local authorities, it is not just about attracting more money, but about what gets financed.
According to a press statement, the bonds will be issued very soon, although no precise date has been mentioned yet. Additionally, the money will go towards financing sustainable projects in Berlin itself, with half going towards strictly social projects and half towards green projects.
In 2017, local authorities in the German capital made the decision to open up the city’s pension reserve funds to sustainable stock investment. According to the city, the next step is to open local projects to the outside.
These are 36 projects launched in the budget years of 2020 and 2021, including the expansion of the electric bus system, free lunches in the city’s public schools and a mixed resilient forest programme. Notably, every project in the list abides by at least one of the 17 Sustainable Development Goals of the United Nations.
The city plans to issue bonds every two years, which will be open to private investors and individual investors because of the relatively low entry threshold of 1,000 euros per bond. The sustainability bonds were set up through a framework provided by the International Capital Market Association. The agency ISS ESG was selected to do an external assessment.
In recent years, the market for sustainable bonds has seen massive growth. While in 2019, it had an issued volume of just 400 million dollars worldwide, in 2021 that number grew to 1.1 trillion.
Senator Daniel Wesener was quoted in a press statement, explaining that the city is now opening up its bonds to investors who attach particular importance to sustainability. He continued: “At the same time, we are creating added value for the city, because the bond gives a clear impetus to administration and politics to align their projects even more closely with ecological and social criteria.”
The underground rapid transit lines have been under construction for almost two decades due to various project delays
Now you can get your wine in Talence by paying directly in Bitcoin
That’s because the state has to spend money on updating the railway infrastructure rather than subsidizing the cost of the popular pass
Rethinking renewable energy sources for the urban landscape
The examples, compiled by Beyond Fossil Fuels, can inform and inspire communities and entrepreneurs that still feel trepidation at the prospect of energy transition
Now you can get your wine in Talence by paying directly in Bitcoin
The 10th European Conference on Sustainable Cities and Towns (ESCT) sets the stage for stronger cooperation between the EU, national and local level to fast track Europe's transition to climate neutrality.
At least, that’s the promise made by the mayor of Paris, Anne Hidalgo
The underground rapid transit lines have been under construction for almost two decades due to various project delays
At least, that’s the promise made by the mayor of Paris, Anne Hidalgo
Hostal de Pinós is located in the geographical centre of the autonomous region
Despite its church-y name, the district has long been known as the hangout spot for the artsy crowds
Urban dwellers across the EU are having a say in making their surroundings friendlier to people and the environment.
Forests in the EU can help green the European construction industry and bolster a continent-wide push for architectural improvements.
Apply by 10 November and do your part for the transformation of European public spaces
An interview with the Mayor of a Polish city that seeks to reinvent itself
An interview with the newly elected ICLEI President and Mayor of Malmö
A conversation with the Mayor of Lisbon about the spirit and dimensions of innovation present in the Portuguese capital