The Italian Treasury sold an €8.5 billion Green Bond on March 3, the largest Green Bond ever, according to the Financial Times. The demand was almost ten-fold, indicating market frenzy for such assets. The Italian government said it will use the money to finance projects as much as possible, consistent with the EU taxonomy.
Italy follows several European countries, including Poland, Ireland, Sweden, and the Netherlands, into the green debt market. France has issued 11 green bonds since 2017, totalling $30.6 billion, according to Moody’s Investors Service. Germany joined the market last year with two green Bunds. In its budget on March 3, the U.K. announced plans to sell at least £15 billion of green bonds in two offerings this year.
