Source: Government of Iceland
The Government of Iceland has released its first Impact and Allocation Report, detailing the use of proceeds and environmental benefits of the country’s green and sustainable bond issuances.
This 2024 Impact and Allocation Report outline how proceeds from the EUR Green Bond (issued in March 2024) and the EUR Gender Bond (issued in June 2024) have been allocated across various government budget expenditures. These allocations align with the criteria established in Iceland’s Sovereign Sustainable Financing Framework, published by the Ministry of Finance and Economic Affairs in April 2023, and highlight the resulting positive environmental and social impacts. Allocation reports will be published annually until the proceeds are fully allocated.
A total of EUR 236.9 million of the proceeds raised through the issuances (EUR 750 million from the Green Bond and EUR 50 million from the Gender Bond) were allocated to finance government expenditures in 2024 across 11 categories. These categories are: G1: Clean transportation, G3: Green buildings, G4: Management of living natural resources & land-use, G5: Circular economy and emission reduction, G6: Climate change adaptation, G7: Information and communication, B2: Pollution prevention and control, B3: Management of living natural resources, B4: Sustainable water and wastewater management, W2: Essential social services and decent living standards for women in a vulnerable position and W3: Reduce and redistribute the burden of unpaid care and domestic work.