Central Coast Council has just been announced as one of the first investors in the world’s first Green Tailored Deposit to be certified by the internationally recognised Climate Bonds Initiative (CBI).

The Green Tailored Deposit, launched by Westpac on 26 November, is a medium to long term investment product (1-5 years) designed for investors who want or need investments that genuinely contribute to delivering a low carbon and climate resilient economy.

All deposits are associated with a defined pool of eligible assets or projects which meet the strict CBI criteria, which can include renewable energy, low carbon transport, low carbon buildings and water infrastructure.

Mayor Smith said investing in green bonds will allow Council to provide finance to projects that generate positive social impacts and help create a vibrant and sustainable Central Coast.

“By investing in Green Bonds, Council is directly contributing to funding sustainable initiatives like renewable energy projects and innovations in waste management providing real and lasting benefit to the community,” Mayor Smith said.

“Council is committed to leading the way in addressing the impacts of climate change and green investments are an innovative and tangible way we are delivering on that promise to our community.”

Green bonds were created to fund projects that have a positive environment social and/or climate benefit including but not limited to renewable energy (solar, wind and hydro), carbon reduction, commercial property energy efficiency improvements, asset finance for low emission passenger and commercial vehicles and community housing.