TLFF issues $95 million sustainable rubber bond in Indonesia
The Tropical Landscapes Finance Facility has issued a $95 million sustainable rubber bond in Indonesia. The bond will pay for wildlife-friendly, socially inclusive and climate-sensitive rubber production in two Indonesian provinces.
The financing, arranged by BNP Paribas, will fund PT Royal Lestari Utama, a joint venture between Michelin and Indonesia’s Barito Pacific Group. Working with the World Wildlife Fund, the venture has preserved high carbon stock and high carbon value forest, along with wildlife and riparian zones and expects to support 16,000 jobs. About half of the 88,000 hectares are to be preserved for community development.
Published by: ImpactAlpha on March 2, 2018
Programme: Landscapes in Indonesia
Project name: Tropical Landscape Finance Facility