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EU plans to sell green and social bonds for recovery fund

The European Union is planning to sell green and social bonds to finance some of its 750 billion-euro recovery fund, according to a person familiar with the matter.

Figures are USD billion, Source: BloombergNEF, S&P Photo: Bloomberg

Officials are working on a set of guidelines that would introduce criteria for green bonds, though it’s unlikely the legislative proposal would be ready by the end of the year, said the person, who works at the European Commission and asked not to be identified because the information isn’t public.

While green bond issuance has been widely expected -- with EU officials already promising to allocate almost a third of their stimulus package to climate-friendly projects -- the EU has yet to officially confirm that it will sell this sort of debt.

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