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Environment, Land & Resources

Insights and commentary on environmental issues and developments impacting business across the world

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French Development Agency Unveils New SDG Bond Framework

Posted on October 26, 2020
Posted in Environmental, Social, and Governance, Green Finance

The AFD’s new framework aligns with the UN Sustainable Development Goals and the 2030 Agenda.

By Paul A. Davies, Michael D. Green, Edward R. Kempson, and Roberto L. Reyes Gaskin

The Agence Française de Développement (AFD) has issued a new Sustainable Development Bond Framework (the Framework) that establishes bond eligibility criteria based on fundamental principles, and describes the identification and selection process for parties to be included in any Sustainable Development Goals (SDG) bonds. The Framework defines SDG bonds as “loans extended to countries, territorial authorities, NGOs, banks and financial intermediaries, or public and private enterprises” which satisfy the eligibility criteria discussed below. The AFD is a public financial institution working to fight poverty, promote sustainable development, and implement policy defined by the French government.

The launch of the new Framework comes in the context of a rapidly growing ESG bond market. For example, total green bond issuance recently topped US$1 trillion and analysts expect a similar upwards trend in 2021.

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