Yakutsk intends to issue landscape-related bonds for public financing
In a significant move towards sustainable urban development, Yakutsk, the coldest city in the world, has announced the introduction of green bonds as a new investment tool for its residents. The announcement was made by Yevgeny Grigoryev, the Mayor of Yakutsk, during the strategic session "Renewal of Far Eastern Cities. Plans and Implementation" at the X Eastern Economic Forum in Vladivostok.
The city's green bonds are intended for profitably investing in Yakutsk's economy, with the first issuance planned for October 2025 on the "Finuslugi" marketplace of the Moscow Exchange. The total amount for new issues in 2026-2027 for the "Old City - 2" project, a key part of Yakutsk's master plan until 2030, is 216 million rubles.
The "Old City - 2" project is a greening initiative aimed at transforming public spaces and streets in Yakutsk. The project focuses on creating a more environmentally friendly and aesthetically pleasing cityscape, aligning with the global trend towards sustainable urban development.
By investing in the green bonds, residents of Yakutsk will not only be contributing to the city's renewal but also fostering a greater sense of belonging to their hometown. The green bonds are designed to make residents feel more connected to the city's development and growth, encouraging active participation in the implementation of the master plan until 2030.
The X Eastern Economic Forum, where the green bonds announcement was made, is a significant platform for economic discussions and plans, particularly for the Far Eastern cities of Russia. The forum provides a platform for regional leaders to share ideas, discuss strategies, and make decisions that shape the future of these cities.
In a time when climate change and sustainability are at the forefront of global conversations, Yakutsk's green bonds initiative is a testament to the city's commitment to a greener, more sustainable future. The city's move towards green bonds is expected to inspire other cities in Russia and beyond to follow suit, contributing to a broader shift towards sustainable urban development.
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