One of Australia’s top universities has achieved a world first, becoming the first higher education institution to issue a ‘climate bond’, reports Study International.
Monash University, a member of the elite Group of Eight universities, raised AU$218 million (US$161 million) through the bond to fund sustainable development projects across its global campuses. The bond, which was issued in the United States private placement market, was certified by the Climate Bonds Initiative and accredited by Moody’s as a Green Bond.
Over the next two years, the university plans to channel the capital raised through the bond to various projects, such as constructing or redeveloping environmentally-friendly buildings and installing solar panels and energy-efficient LED lighting.
Full report on the Study International site
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