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New Big Cap Equity Index to Reward Australia’s Climate Champions

  • BNP Paribas issues green bonds linked to the new index
  • Investors can gain exposure to firms showing climate progress
Sydney’s Air Pollution Is So Bad It’s Setting Off Fire Alarms
Photographer: Brendon Thorne/Bloomberg

A new Australian equity index, developed by BNP Paribas SA and backed by the government’s green bank, will support and reward 100 companies doing the most to stem climate change.

The French bank has issued A$140 million ($101 million) in green bonds linked to the Australian Climate Transition Index, offering institutional investors exposure to the country’s biggest companies that are showing progress transitioning to a low-carbon future. The bonds are backed by a A$60 million cornerstone investment from the Clean Energy Finance Corp. and the proceeds will be used to invest in green projects.