Luxembourg launches Europe’s first sustainability bond framework

Luxembourg became the first European and AAA rated country in the world to sell a “sustainability” bond earlier this month. Listed on the Luxembourg Stock Exchange (LGX), the world's leading platform for green and sustainable bonds, the bond raised 1.5 billion euros ($1.77 billion) and has a 12-year maturity. Proceeds from the issuance will be divided equally between green and social projects and include construction of green buildings, development of low-carbon transport, affordable housing, and job creation. “The bond was very well received by the market and was oversubscribed many…