Moscow’s Green Bonds Are among the World’s Best Practices of Combating Climate Change

Moscow’s green bonds are among the 25 most successful cases selected by UN-Habitat as the best practices of the world’s cities aimed at combating climate change.

According to Maria Bagreeva, Deputy Mayor of Moscow, Head of the Department of Economic Policy and Development of the city, Moscow has become the first Russian region to place exchange-traded green bonds in 2021 and green bonds for the public in 2023. At the expense of these issues, the capital financed the construction and reconstruction of 48 kilometers of tracks and 21 stations of the Big Circle subway line, as well as purchased more than 450 electric buses for city routes.

UN-Habitat experts note the significant impact of green projects on the environmental and social landscape of Moscow and the improvement of the quality of life in the city. By replacing buses with the electric ones, financed through the issuance of green bonds, Moscow has managed to reduce air pollutant emissions by 105,5 tons annually and greenhouse gas emissions by 21 thousand tons, and by reducing car traffic due to the opening of new stations of the Big Circle Line - by almost 900 tons of pollutants and 20,9 thousand tons of greenhouse gases annually.

In addition, thanks to the bond issue, residents of the capital city have an opportunity to take an active part in shaping the city’s green agenda. Private investors purchasing the bonds have also contributed to the improvement of the environment in Moscow and the development of modern urban infrastructure.

In addition to Moscow, the world cities report 2024 has included case studies of cities in Australia, China, France, India, Spain, Mexico and other countries.

The photo and content: https://www.mos.ru/

06.12.2024

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