The European Investment Bank (EIB) has issued its first digital green bond on a blockchain-based platform developed by SEB and Credit Agricole.
The so|bond platform, developed specifically for the issuance of digital bonds, was launched in April by the two banks.
The EIB’s Climate Awareness Bond, which is worth SEK1bn (US$92.7m), is the first to be issued on the platform.
Proceeds will be used for lending to climate-related projects.
The platform’s green credentials are further enhanced by a validation logic that promotes low energy consumption and a rewards system that encourages affiliated banks to improve their carbon footprint.