ESG & Investing
Boutique ESG Funds Are Latest Target for Pioneer Austria
- Treasury in Vienna will sell green commercial paper from March
- Unique instruments help expand investor base with ECB exiting
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Austria is targeting specialist ethical investment funds with plans for green money market notes, its latest innovation in sovereign debt.
The nation, which brought benchmark-size century bonds to the euro area and issued the world’s first sovereign green Treasury bills last year, will start selling commercial paper linked to environmental projects from March. These are effectively short-term IOUs that organizations typically use to fund day-to-day operations.