The Water Services Corporation (WSC) in Malta has made history by issuing the country’s first-ever Green Bonds. The bonds are valued at $27.5 million and come with a maturity term of 10 years, carrying a 4.25% interest rate. This bond issuance is in accordance with the United Nations’ Sustainable Development Goals (SDGs) and the European Union‘s Green Deal, signifying WSC’s dedication to environmental sustainability and sustainable water management.
The funds raised from these Green Bonds will be allocated towards financing an array of green projects. Among these are Gozo’s reverse osmosis plant, solar farms for renewable energy, wastewater treatment plants, and improvements to WSC’s water network. This initiative represents a significant step forward in Malta’s shift towards a green economy and sustainable development.
Karl Cilia, the CEO of WSC, has praised the launch of the Green Bonds as a landmark event. He highlighted that this move is an affirmation of the company’s commitment to environmental stewardship and its leadership in green finance. The proceeds from the Green Bonds will finance projects designed to reduce the negative impact on the environment and enhance sustainability, further underscoring WSC’s commitment to green and sustainable operations.
The Green Bonds were issued by Clearflowplus p.l.c., a subsidiary of WSC Group, and carry a guarantee from WSC. They have also been certified by the Climate Bonds Initiative. This certification ensures that the proceeds will be used to finance environmentally positive projects. The bonds are open to both institutional and retail investors, providing a wide range of stakeholders the opportunity to contribute to sustainable projects.
The proceeds from the green bonds will support projects such as the optimization of reverse osmosis plants, extending new sewage infrastructure, and the creation of new water sources. These initiatives are expected to have a significant positive impact on Malta’s water management systems and environmental sustainability.
This green bond initiative is in alignment with the United Nations Sustainable Development Goals, particularly Goal 6. This goal aims to ensure the availability and sustainable management of water and sanitation for all. The WSC’s commitment to this goal through their Green Bonds issuance is a significant leap towards a more sustainable future for Malta and a major milestone in the global green finance sector.
