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Taiju Life Invests in World Bank AUD 50 Million Sustainable Development Bond

Environmental News Sustainable Finance

Taiju Life Invests in World Bank AUD 50 Million Sustainable Development Bond

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The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) issued an AUD 50 million 15-year Sustainable Development Bond while engaging with investors on the World Bank’s strategy, projects, and programs that support developing countries in the sustainable management of biodiversity and ecosystem services and integrating nature in development. Taiju Life was the sole investor in the bond. TD securities is the sole underwriter and distributor of the bond.

The funds raised from investors through the issuance of Sustainable Development Bonds are used to support the financing of various programs and projects aimed at achieving sustainable development in developing countries including those which contribute to biodiversity conservation and promote nature-based solutions. The World Bank’s mission is to end extreme poverty by 2030 and to promote shared prosperity in a sustainable manner. These “twin goals” are aligned with the Sustainable Development Goals.

See related article: World Bank Raises NOK 5 Billion Sustainable Development Bond While Highlighting Biodiversity

Biodiversity is critical to sustainable development, climate resilience, and human well-being. Animal, plant, and marine biodiversity comprise the “natural capital” that keeps our ecosystems functional and economies productive. Half of the world’s GDP depends on biodiversity and ecosystem services which include things like fresh water and timber, carbon storage and sequestration, natural landscapes that support tourism, and soil formation. With a steep decline in natural capital in the last 50 years, at least one million species are threatened with extinction. An estimated US$700 billion/year is needed to reverse the loss of biodiversity and ecosystem services by 2030.

The World Bank is one of the largest international financiers of nature and works with partners to mobilize private capital and performance-based financing to deploy solutions across the globe. The World Bank’s integrated ecosystem-economy model sheds light on development risks associated with nature loss and helps identify effective policy responses as part of the World Bank’s contribution to the COP15 of the UN Convention on Biological Diversity in December 2022.

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