Irish bank AIB has successfully raised €500 million through the issuance of its seventh green bond, aimed at financing environmental and climate action initiatives.
The International Monetary Fund (IMF) has indicated that Ireland will require an investment of €20 billion annually over the next decade to facilitate the transition to a low-carbon economy, emphasizing the importance of private investment in this endeavor.
AIB has leveraged its Climate Capital to support a variety of renewable energy projects, sustainable buildings, and clean transportation initiatives through its green bonds. To date, the bank has raised €6.9 billion via green and social bonds, deploying €16.6 billion of its €30 billion Climate Action Fund since 2019.
Colin Hunt, CEO of AIB, commented, “Sustainability sits at the core of AIB’s Group strategy as we strive to be a catalyst for meaningful climate action in Ireland and beyond. This latest issuance of green bonds enables us to allocate capital and fund essential green and transitional infrastructure. We are committed to leading the charge towards a more sustainable future by minimizing our carbon footprint, supporting our 3.35 million customers with green financing options, and ensuring that our capital investments yield positive environmental outcomes.”
Notably, AIB made history in 2020 by becoming the first Irish bank to issue a green bond.