The world’s first sovereign green bond has resulted in the reaffirmation of Luxembourg’s position as a leading global international centre for Climate Finance.
The bond, issued by the Republic of Poland, being listed on the Luxembourg Stock Exchange (LuxSE), as well as the announcement of the first Climate Finance Label granted by LuxFLAG to three international funds.
Poland, one of the leading sovereign issuers listed on the Luxembourg Stock Exchange, has chosen LuxSE as the listing venue for the first sovereign green bond in international capital markets. The EUR 750 million green bond will, in parallel, be displayed on the Luxembourg Green Exchange (LGX), launched in September 2016. The LGX, the world’s first platform dedicated exclusively to green securities, provides issuers and investors an environment where they can come together and fulfill their green objectives.
Asked about the selection criteria when choosing the listing venue for the green bond, the Polish Deputy Minister of Finance, Piotr Nowak, explained: “LuxSE is one of the biggest stock exchanges for international bonds in Europe, and a very innovative one. The recent implementation of the Green Exchange is a proof of an open-minded approach towards the needs of financial markets. On top of that, we received strong recommendations from market participants to list there.”
The proceeds of the sovereign green bond will be used for renewable energy, clean transportation, sustainable agriculture operations, afforestation, national parks and reclamation of heaps. Other sovereigns have already publicly indicated that they will join the green bond issuance trend, already well advanced among corporate issuers and development banks.
Moreover, the finance labelling agency LuxFLAG announced this week the first international funds that have been awarded the Climate Finance Label: East Capital China Environmental, Green for Growth Fund Southeast Europe and NSF Climate Change+ Fund.
LuxFLAG launched this new label in September with the aim to set a transparent environment for Climate Finance investments with a view to unlocking capital from institutional and private investors to help finance climate change action. In order to receive the label, funds must dedicate at least 75% of assets under management to investment in climate change mitigation and/or adaptation activities.
As of today, LuxFLAG has issued 58 fund labels: 30 Microfinance, 11 Environment, 14 ESG and 3 Climate Finance. They represent a total of EUR 13.5 billion assets under management.
Extra-Mile Water Conservation Efforts Amidst Shortage
While some states are literally flooding due to heavy rains and run-off, others are struggling to get the moisture they need. States like Arizona and California have faced water emergencies for the last few years; water conserving efforts from citizens help keep them out of trouble.
If your area is experiencing a water shortage, there are a few things you can do to go the extra mile.
Repair and Maintain Appliances
Leaks around the house – think showerheads, toilets, dishwashers, and more – lead to wasted water. Beyond that, the constant flow of water will cause water damage to your floors and walls. Have repairs done as soon as you spot any problems.
Sometimes, a leak won’t be evident until it gets bad. For that reason, make appointments to have your appliances inspected and maintained at least once per year. This will extend the life of each machine as well as nip water loss in the bud.
When your appliances are beyond repair, look into Energy Star rated replacements. They’re designed to use the least amount of water and energy possible, without compromising on effectiveness.
Only Run Dishwasher and Washer When Full
It might be easier to do a load of laundry a day rather than doing it once per week, but you’ll waste a lot more water this way. Save up your piles of clothes until you have enough to fully load the washing machine. You could also invest in a washing machine that senses the volume of water needed according to the volume of clothes.
The same thing goes with the dishwasher. Don’t push start until you’ve filled it to capacity. If you have to wash dishes, don’t run the water while you’re washing. Fill the sink or a small bowl a quarter of the way full and use this to wash your dishes.
Recycle Water in Your Yard
Growing a garden in your backyard is a great way to cut down on energy and water waste from food growers and manufacturers, but it will require a lot more water on your part. Gardens must be watered, and this often leads to waste.
You can reduce this waste by participating in water recycling. Using things like a rain barrel, pebble filtering system, and other tools, you can save thousands of gallons a year and still keep your landscaping and garden beautiful and healthy.
Landscape with Drought-Resistant Plants
Recycling water in your yard is a great way to reduce your usage, but you can do even more by reducing the amount of water required to keep your yard looking great. The best drought-resistant plants are those that are native to the area. In California, for example, succulents grow very well, and varieties of cactus do well in states like Arizona or Texas.
Install Water-Saving Features
The average American household uses between 80 and 100 gallons of water every single day. You obviously can’t cut out things like showering or using the toilet, but you can install a few water-saving tools to make your water use more efficient.
There are low-flow showerheads, toilets, and faucet aerators. You could also use automatic shut-off nozzles, shower timers, and grey water diverters. Any of these water saving devices can easily cut your water usage in half.
Research Laws and Ordinances for Your City
Dry states like California, Arizona, New Mexico, and Nevada must create certain laws to keep the water from running out. These laws are put into practice for the benefit of everyone, but they only work if you abide by the laws.
If you live in a state where drought is common, research your state and city’s laws. They might designate one day per week that you’re allowed to water your lawn or how full you can fill a pool. Many people are not well versed in the laws set by their states, and it would mean a lot to your community if you did your part.
Cyprus is the Forerunner for Ecotourism
When I was looking for a second citizenship, I happened to see One Visa’s offer on Cyprus Citizenship by investment program. I had heard about Cyprus being a beautiful country, but I did not know much else, so I decided to start my own research about this gem of a place.
After I did some research, I discovered that Cyprus is a popular destination for tourists. Unfortunately, heavy tourism and the associated development affected villages here and there, with some communities being slowly abandoned. To avoid this from happening any further, Cyprus went into ecotourism, and today, it is the forerunner in this arena. Let’s look in further detail at ecotourism in Cyprus here.
How was it started?
It all started in 2006 with the launch of the “Cyprus Sustainable Tourism Initiative.” This program has the sole scope of promoting ecotourism developments in the tourism industry. It concentrates on those areas which require conservation and environmental safety. At the same time, it helps develop social, as well as economic statuses in the rural parts of Cyprus. Through this program, the government was able to acknowledge that ecotourism will play an essential role in the future of Cyprus, with the concept gaining momentum among tourists from all over the globe.
How to go about it?
So, now you are interested in going for an ecotourism vacation in Cyprus. How will you go about it? I would immediately say that everyone should visit the quaint Cypriot villages spread throughout the island. These communities have a smaller population, and not many tourists visit. They make for a great relaxing spot. Enjoy seeing the bustle of village life go by where simple pleasures abound. Most hamlets are linked by specific minibus tours which ferry tourists to these havens. These trips will have a regular schedule, aimed at promoting ecotourism further. Such tours will be regulated to ensure that while the villages can benefit and develop, they do not get overpopulated or overcrowded with tourists. Therefore, you can be sure to enjoy the beautiful sceneries that nature has to offer here.
If you are wondering if there are any activities to do here, my answer would be: “Yes, plenty.” You can go for some guided walks across various regions here. Here you will be able to explore the diversified natural beauty and wildlife of the area. Several agritourism activities and services are planned to open shortly. Once launched, you will be able to engage in picking olives, milking goats, and several other such events here.
What can be learned?
Although we are aware that natural resources need to be preserved, we do not always remember it in real life. When we go on tours such as these, we can realize the significance of protecting nature. Also, when more and more people visit these places, the concept of ecotourism will become popular among more people. Awareness about ecotourism is set to grow and spread throughout the world. Subsequently, sustainable tourism will gain popularity around the globe with Cyprus being the forerunner for ecotourism .