(IPE.com) - Investment in World Bank green bonds have now surpassed the $1bn (€736m) mark, reflecting a growing interest by investors in climate change adaptation and mitigation projects.

The latest issue, a World Bank green bond denominated in Swedish Kronor (SEK), attracted investors including WWF-Sweden, Church of Sweden, European private banks and life insurance companies, as well as the Swedish National Pension Fund AP3.

The first – also SEK-denominated – World Bank green bond was launched in November 2008. Since then, additional bonds have been issued in US dollar and other currencies for investors in the US, Europe and Japan.

The bonds support projects in the World Bank's member countries, which are designed to tackle the causes and consequences of climate change in the developing world and allow institutional investors to support climate change solutions within their high-grade fixed income investment mandates.

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