The Financial Market Council (CMF) has developed in collaboration with the International Finance Corporation (IFC), a member of the World Bank, a guide for issuing socially responsible and sustainable (GSS) green bonds, the CMF said Thursday.
These bonds, whose issuance is seeing a remarkable growth internationally, are similar to conventional bonds but are distinguished by the commitment of the issuing company to use the funds raised to finance green, socially responsible and sustainable projects, therefore contributing to the achievement of sustainable development goals.
The guide prepared by the CMF sets up a homogeneous framework of requirements in terms of evaluation, selection of projects to be financed, reporting and external insurance.
More generally, it gives precise orientations as to the respect of the recommendations and principles published by the International Capital Markets Association (ICMA) in the framework of GSS bonds issuance in Tunisia.
