On February 2, 2022 Bloomberg reported that “Pakistan is seeking to become the next emerging market to turn to the environmental bond market for funding as it prepares to sell its first such note next month.
The country plans to raise $1 billion from environmental, social and governance Eurobonds, Finance Minister Shaukat Tarin said in an interview in Islamabad. ‘We will go for environmental development and support’ in tapping the international markets to raise dollars, he said.
The South Asian nation would join Mexico and Kenya in exploring ESG bonds as issuance from emerging markets outpaces that of developed economies. The spurt comes even as some investors grow wary of the risks of ‘greenwashing,’ in which the labeling of the bonds may foster a misleading image of environmental and ethical responsibility.”
You may read the article on the Bloomberg internet site.