Everence and Praxis commit $2 million to new World Bank Green Bond
Making a positive impact through investments
Everence Association and the Praxis Intermediate Income Fund have committed $2 million (or $1 million each) in the latest Green Bond offering from the World Bank.
In total, 17 investors – including Everence and Praxis – have invested in this latest Green Bond offering. Proceeds from the Green Bond will be used to provide global solutions to climate change, as well as economic opportunities and higher standards of living for people in developing countries. Examples of these opportunities supported by these bonds include:
- Off-grid solar and wind installations
- Greater efficiency in transportation
- Waste management
- Energy efficient housing construction
- Carbon reduction through reforestation and deforestation prevention
- Protection against floods through reforestation
- Food security improvement and stress-resilient crops
The World Bank has issued approximately $4 billion in Green Bonds since their introduction in 2008. The World Bank is a global development cooperative owned by 186 member countries whose goal is to help overcome poverty and improve standards of living for people worldwide.
Praxis was one of the first United States investors to participate in Green Bond offerings from the World Bank. To date, over 10 percent of the Praxis Intermediate Income Fund is invested in green bonds, community investments and other high social impact bonds to support alternative energy, immunization, medical research and local infrastructure improvements.