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, designed specifically for the issuance of digital bonds, was launched in April by the two banks. The EIB’s Climate Awareness Bond, valued at SEK 1 billion (approximately US$92.7 million), is the inaugural issuance on this platform. Proceeds from the bond will be allocated to climate-related projects.
The platform also features a validation logic aimed at reducing energy consumption and includes a rewards system that incentivizes participating banks to enhance their carbon footprint.