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billion of the total – three times the 2016 level. While it’s interesting to note that 18 WFE members report their Scope 3 emissions, more material is their role in supporting the sustainability strategies of investors. Importantly, adaptation finance accounted for US$32.4 In that respect, the picture is still somewhat mixed.
Despite development barriers, opportunities are emerging for investment in sustainable assets in growing market. Africa has seen rapid growth in issuance of green, social, sustainability and sustainability-linked (GSS+) bonds and could prove enticing to investors, in spite of existing challenges.
Sovereigns have been relatively late entrants to sustainablebond markets following corporates and supra-national entities (such as the World Bank and the European Bank for Reconstruction and Development), which issued the first green debt securities in the mid-2000s.
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