Moscow to finance eco-initiatives with green bonds

Moscow to finance eco-initiatives with green bonds

The launch of the Big Circle Line will allow some Muscovites to abandon personal transport and underlined that 10 thousand less cars in Moscow will result in 20 thousand tons less CO2 per year

Funds obtained from the placement of green bonds are channeled to projects for the development of urban transport infrastructure which will help reduce emissions of pollutants and greenhouse gas, declares Moscow Deputy Mayor for Transport, Maksim Liksutov.

"The money from the green bonds will help build 18 new stations and more than 43 km of the Big Circle Line of Moscow Metro, as well as reconstruct 3 more stations and 4 km of Moscow Metro lines," – Maksim Liksutov.

Deputy Mayor added that the launch of the Big Circle Line will allow some Muscovites to abandon personal transport and underlined that 10 thousand fewer cars in Moscow will result in 20 thousand tons less CO2 per year. Moreover, Moscow uses the bond funds to purchase 400 e-buses, 100 of which are already in operation.

"Replacing one bus with an electric bus reduces air emissions by 190-260 kg per year and CO2 emissions by an average of 60 tons per year. This means that we will breathe even cleaner air in Moscow, which is very important for the immunity of adults and children," – Maksim Liksutov.

On September 22, Moscow presented an installation at Nizhegorodskaya metro station (Big Circle Line) dedicated to the Green Bonds project. The construction of the station was financed with funds obtained from the placement of green bonds. Its passenger flow is expected to reach more than 40 thousand people per day by 2023.

"We emphasize that the metro is an ecological transport that does not pollute the air, and that is safe for the environment. The funds from the bonds are channeled into important urban projects that significantly improve the living standards of Muscovites and make urban mobility even safer," – Maksim Liksutov.

In May 2021, the placement of the first issue of Moscow's green bonds worth 70 billion rubles began on the Moscow Exchange. The volume of purchase orders exceeded the supply by 1.2 times. Funds from the placement of such bonds will be used for environmental projects.

 

Moscow to finance eco-initiatives with green bonds

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