BSTDB Issues £50 million ESG Notes

News | 20-May-2021

The Black Sea Trade and Development Bank (BSTDB) has launched its second issue of ESG notes for the amount of £50 million following the adoption of the Climate Change Strategy earlier this year.

The notes are issued for Aberdeen Standard Investments on behalf of its strategic partner Phoenix Group with both being based in the United Kingdom.

The transaction will assist the implementation of the Bank’s Climate Change Strategy and its portfolio growth in the target areas of lower carbon and efficient energy generation, renewable energy and energy efficiency in industries and buildings, as well as support sustainable agricultural practices, waste and wastewater treatment that reduce GHG and green transport systems.

The issuance of the notes defines a more purposeful BSTDB’s role in supporting Member Countries in mitigating and coping with the impacts of climate change, mainly by shifting its financing priorities to more climate positive operations.