City of paris
The City of Paris issued the Paris Climate Bond - a market-based instrument - in 2015 as a way to demonstrate the diversity of municipal ecological commitments to the international community given their hosting of the Climate COP21. The total size of the bond is € 300 million, with a running time until May 2031. The bond targets private investors who are interested in seizing this investment opportunity while funding sustainable actions in the city of Paris. Investors will receive a profit rate of 1.75% per year. The funds raised by the bond will finance projects which contribute to greenhouse gas (GHG) emission reductions, improvement of energy efficiency, renewable energy production, and climate change adaptation. This includes projects to reduce the heat island effect and increase the resilience of the city by creating green spaces and corridors, in line with the European Energy and Climate Plan to make Paris a carbon-neutral and climate-resilient city by 2050.