Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I thank the Deputy for acknowledging the success of the initiative, which I appreciate. As he noted, it raised €3 billion. The bond, which matured in 2031, was sold at an initial yield of 1.399%, following a decision the Government made last July. The transaction was a further move by the NTMA to diversify its issuance, access a new category of investor and provide a new debt instrument to meet untapped investor demand. The accessing of these investors is important given the increased focus of investors and funds on environmentally sustainable investments. It is important that Ireland is one of the first sovereign States to meet this demand.

An allocation report will be made available to investors annually until an amount equal to the net proceeds of the Irish sovereign green bond has been fully allocated. The report will include the total amount allocated to eligible green projects, the total amount allocated per category and the remaining unallocated amount. In addition, an eligible green project impact report on the environmental impacts of the eligible green projects will be made available to investors on at least a biennial basis, subject to the availability of data. This could provide updates on the status of projects such as sustainable water, wastewater management and clean transport.

To respond directly to the final question which the Deputy asked, I am open to considering how we can continue this approach in the future. I will depend on the advice of the NTMA on the matter but it is fair to say the initial offering of the bond was successful. I am sure the NTMA and I intend to examine ways in which we can continue this activity in the coming years.

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