Dai-ichi Life has purchased the entire amount of a A$160m ($117m) climate resilience bond issued by the European Bank for Reconstruction and Development (EBRD), the first such bond the EBRD has issued to a Japanese institutional investor.
The proceeds raised from this bond will be used toward conservation projects, such as construction areas of the coast resistant to rises in sea level and flooding, and the restoration of waters that have become polluted by flood damage accompanying climate change.