The Malta Stock Exchange announced its very first listing to the MSE Green Bond List, describing it as a “historic milestone” for the exchange.

On 21st August, ClearFlowPlus plc took the lead by listing 4.25% Unsecured Bonds with a nominal value of €25 million.

ClearFlowPlus is a subsidiary of the Water Services Corporation, a Government owned entity responsible for managing the water cycle of the nation, including ensuring a reliable water supply for the country.

Commenting on the listing, the MSE said “this strengthens our commitment to responsible finance and paves the way for environmentally conscious investments that drive positive change”.

In an announcement by the Water Services Corporation, it said the green bonds are in line with the UN’s Sustainable Development Goals and the EU’s Green Deal.

Proceeds from the Green Bonds will be used to finance a number of green projects, such as:

• Gozo’s reverse osmosis plant in Hondoq.
• Solar farms that will generate renewable energy and reduce WSC’s reliance on fossil fuels.
• Wastewater treatment plants that will improve water quality and reduce pollution.
• Enhancements to WSC’s water network that will reduce non-revenue water and improve efficiency.

 These projects will help to address some of the most pressing water challenges facing Malta, including water scarcity, climate change, and pollution. They will also help to create jobs and boost the economy.

“This is a landmark event for us as a corporation and for Malta as a whole,” said WSC CEO Karl Cilia. “We are the first company in Malta to take this ‘green’ step, we are thrilled to be one of the first water utility companies pursuing such green initiative.”

The Green Bonds are open to both institutional and retail investors. Interested investors can consult an authorized financial institution.

WSC also added that the framework being adopted for the green bond issue employs the four key pillars of the ICMA Green Bond Principles, which include the use of proceeds, process for project evaluation and selection, management of proceeds, and reporting.