June 21, 2017 / 10:13 AM / 6 months ago

Sweden has no plans for green bonds this year - debt office

LONDON, June 21 (Reuters) - The Swedish government has no plans to issue green bonds this year as it is waiting for the results of an review of the burgeoning market in sustainable debt, its head of debt management said on Wednesday.

France became the second sovereign after Poland to sell so-called “green bonds”, whose proceeds are used to finance projects to address climate change. Portugal, Italy and Ireland are among other countries tentatively eyeing the market.

Sweden set up an inquiry to identify ways to promote the market in December. It is due to report in December 2017.

Asked on the sidelines of a Euromoney conference if Sweden would consider issuance this year, Thomas Olofsson told Reuters:

”Not in that short perspective. The Commission will work until December and then we have to see what they propose.

“It is difficult for us within the existing set-up to issue green bonds. If we do that in the future there has to be a proposal from the commission and the decision would be based on the government and the parliament.” (Reporting by Dhara Ranasinghe; Writing by John Geddie; Editing by Nigel Stephenson)

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