Translation. Region: Russian Federal
Source: Moscow Government – Government of Moscow –
The city has redeemed green bonds for the population. This was reported by Elena Zyabbarova, Minister of the Moscow Government, head of the capital’s Department of Finance.
The goals of the issue of securities were to improve the culture of saving and investing funds, as well as to involve citizens in the financing of the city’s environmental project.
“Moscow’s green bonds for the population were the first such securities issued in Russia. Only individuals could purchase them. The city offered a simple and convenient investment product with a low degree of risk, also suitable for those who have no experience in investing in securities. An important point was the targeted nature of the investments: buyers invested in the implementation of a project to improve the environmental situation in the metropolis and improve the quality of the urban environment,” said Elena Zyabbarova.
The funds received by the city from the placement of green bonds for the population were used to purchase 51 electric buses. They replaced diesel buses on city routes. The project allowed for the acceleration of the electrification of Moscow transport and the reduction of emissions of harmful substances and carbon dioxide into the atmosphere of the capital.
The placement of securities began on May 30, 2023. Moscow offered private investors bonds worth two billion rubles for a period of two years. The par value of each of them was one thousand rubles, which made them available for purchase to a wide range of citizens. The entire issue was bought out in five weeks, which confirmed the high interest in the new financial instrument. More than 3.5 thousand people from 73 regions of Russia became owners of green bonds. The largest number was purchased by Muscovites, residents of the Moscow Region and St. Petersburg.
According to the terms of the issue, the bonds for the population were not traded on the stock exchange and could not be resold to other individuals. Their holders had the right to return them to the city at any time at par value, while retaining the coupon income for the entire period of ownership. This served as an additional guarantee of the reliability of investments, reducing risks primarily for unqualified investors.
Coupon income was paid quarterly. The city fulfilled its obligations to pay interest and redeem securities on time and in full.
Elena Zyabbarova added that the issuance of green bonds for the population contributed to the increased interest of citizens in responsible investment issues and helped to learn more about how to save and increase their savings without risks. All purchase and sale transactions were carried out online, without intermediaries and commissions. This made the investment process clear and convenient.
Moscow’s Green Bonds Among Global Best Practices in Combating Climate Change
You can find out more about the Moscow budget and the city’s securities in the Telegram channel “Open Budget of Moscow” and on the official portal of the capital’s Department of Finance “Open Budget of the City of Moscow”.
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