Sustainable finance: disclosure of information on bond issues
The Bank of Russia has established the requirements for the disclosure of information on the issue of adaptation bonds and corporate climate transition-related and Sustainable Development Goals (SDG) bonds.
These requirements are described in the Bank of Russia ordinance, which has been registered with the Ministry of Justice of the Russian Federation. From 1 April 2023, companies raising funds through the issue of such bonds will start to disclose this information.
The bond resolution shall, in particular, include the results of an independent expert review, confirming that the bonds comply with the established criteria. After the prospectus is registered, companies will disclose information as a notice of material facts and include it in the issuer’s report for a period of 12 months.
The new requirements continue the development of the legal framework for the issue and circulation of sustainable finance instruments. The issuers of green, social and sustainable bonds have been informing investors about their programmes since October 2021.