Issuance of a Green Bond by the City of Zurich

  • Member IFBC
  • Sector Energy Transition
  • Date completed 7.07.2023
  • Client Finance Administration of the City of Zurich
  • Country Switzerland
  • Investor Capital Market Investors
  • Country Switzerland

On 7 July 2023, the City of Zurich announced the successful first issuance of a Green Bond. The
Green Bond has a size of CHF 300 million with a coupon of 1.70%, and a maturity of 21 years. It enables investors to invest specifically in climate protection projects and thus contribute to the achievement of the City of Zurich’s net zero climate target. The net proceeds of the Green Bond will be used to (re-)finance environmentally friendly buildings as well as other climate protection measures in the building sector such as heating replacement or support programs. The basis for the issue is the Green Bond framework of the City of Zurich, which is based on the Green Bond Principles of the International Capital Market Association.

IFBC supported the City of Zurich’s Finance Administration in the preparation of the issuance of its first Green Bond. Thereby, IFBC contributed to the focused consultation of the involved departments regarding the project and to the successful and targeted consideration of their needs. Furthermore, IFBC supported the development of the framework for Green Bonds of the City of Zurich as well as the necessary submissions to the City Council.

issued its first Green Bond

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