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COMMONWEALTH GREEN FINANCE FACILITY a new $1 billion Commonwealth Green Finance Facility to support environmental projects within the 53-nation bloc as the race against climate change intensifies was created in 24th CHOGAM meeting on 27-29 November 2015

The $1 billion (950-million-euro) facility would be capitalised initially through sovereign contributions and then through so-called green bonds, and is expected to be fully operational by the end of 2016. The CGFF hopes to "improve the bankability of green projects in Commonwealth countries, including the Commonwealth's small island states.

Green bonds—which raise funds for specific climate-related programmes or assets—have shot up in popularity over the past couple of years, with big businesses catching on to the profit to be gained by jumping into bed with the green economy.

Read more at: http://phys.org/news/2015-11-commonwealth-billion-green-facility.html#jCp