The Dutch pension fund ABP, for those working in education and government, has invested €438m in a second Dutch ‘green’ government bond.
The government will use the proceeds from the bond, among other things, to better protect the Netherlands against the consequences of climate change, such as extreme rainfall and rising sea levels through its work on projects like the Delta Program.
The aim of the program is to better protect the Netherlands against the impact of climate change. The country is particularly vulnerable as it is a low-lying river delta, and was hit badly when floods ravaged southern Limburg in 2021.
Examples of projects that can be financed include strengthening flood defenses and dikes, better control of the groundwater level and improving water quality. The proceeds can also be used for projects in the field of renewable energy, efficient use of energy and clean transport. The Netherlands endorses the agreements made in the Paris Climate Agreement to limit global warming.
ABP is a major investor in green (and social) bonds worldwide. At the end of 2022, the pension fund had invested almost €18bn in bonds to finance green and/or social projects.
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