World Bank issues $200M bond to support Amazon reforestation with Mombak, linking bond return to CO2 removal credits.
World Bank plans to issue a $200M bond to support sustainability activities and reforestation in Brazil's Amazon, working with startup Mombak. Mombak acquires degraded land from farmers and ranchers or partners with them to replant native species, generating CO2 removal credits sold in carbon markets. HSBC structures the transaction, and a portion of the bonds' return is linked to the value of these credits.
June 13, 2024
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