The World Bank has published a pamphlet entitled “Engaging with Investors on Environmental, Social and Governance (ESG) Issues – a World Bank Guide for Sovereign Debt Managers” to promote communication between sovereign debt issuers and investors regarding their approach to ESG information. Pointing to the growing role played by environmental and social sustainability in the assessment of long term economic growth and macroeconomic stability, the World Bank suggests in the guide that bond issuers could address investor expectations by increased disclosure, and by issuing thematic bonds, green, blue, social, and sustainable.
The new guide builds on another recent publication of the World Bank, “Riding the Wave: Navigating the ESG landscape for Sovereign Debt Managers,” which offers debt managers a framework for designing their approach to ESG matters. The World Bank issued the first green bond in 2008.