World Bank Reaches $2 Billion in Sustainable Development Bonds Issued while Raising Awareness for Food Loss and Waste with Strong Support from Japanese Investors | WPN World People News

The World Bank’s recent Sustainable Development Bonds have helped to raise awareness for the importance of combating food loss and waste. Food loss and waste is part of Sustainable Development Goal 12.3 - halving food waste by 2030.

Since March 2019, when the World Bank launched the first Sustainable Development Bond to raise awareness of food loss and waste with the Folksam Group, the World Bank has issued US$[2] billion equivalent through 25 Sustainable Development Bonds in ten currencies, while engaging with investors to raise awareness for the importance of combating food loss and waste. This includes a recent 1.75% NOK 1 billion bond due March 13, 2025, with SEB as the sole lead manager.

World Bank bonds support the financing of sustainable development projects and programs in member countries. This includes US$4.6 billion in lending that IBRD is providing to middle income countries to address food loss and waste, with investments in infrastructure, access to markets and logistics, and waste management. Reductions in food loss and waste can deliver diverse dividends, including combatting hunger, supporting sustainable food production, diets and consumption, and ultimately addressing climate change, given that losses and waste account for eight percent of annual global greenhouse gas emissions.

“Norinchukin Bank has invested in these bonds to support the World Bank's efforts to reduce food loss and waste, which is a global issue. Our investments are in line with the sustainable management philosophy of Norinchukin Bank and we believe it will contribute to stable earnings through international diversification of our investments. As a leading bank that supports agriculture, fishery and forestry industries, food production and consumption, and the daily lives of local communities, Norinchukin Bank will continue to make investments that contribute to solving environmental and social issues in cooperation with the World Bank,” said Keito Shimbu, Head of Global Investments, Norinchukin Bank.

Source: World Bank