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PRESS RELEASE June 3, 2019

Raising Awareness for Food Loss and Waste in Japan through World Bank Sustainable Development Bonds

Tokyo, June 3, 2019 – The World Bank and Okasan securities announced the launch of Sustainable Development Bonds issued by the World Bank (International Bank for Reconstruction and Development, IBRD). This 3-year bond is denominated in RUB (Amount: RUB 5240 million) designed for Japanese retail investors and will be offered to investors from today.

One-third of all food produced in the world is lost or wasted every year and this results in US$1 trillion in economic losses per year. At the same time, more than 800 million people of the world’s population are suffering from hunger. Globally, food loss and waste would be the third largest greenhouse gas emitter. The resources needed to produce the food that becomes lost or wasted has a carbon footprint which is eight percent of global emissions annually. This is an issue that must be addressed globally and is outlined by SDG 12.3: to halve per capita global food waste at the retail and consumer levels and reduce food losses along production and supply chains, including post-harvest losses by 2030.

Through the sale of bonds such as Sustainable Development Bonds, Okasan Securities will continue to promote environmental, social and governance and socially responsible investing while also contributing to the Sustainable Development Goals.

The World Bank provides support to middle-income countries to address food loss and waste from farm to fork, with investments in infrastructure, access to markets and logistics, as well as waste management. The World Bank is also working to raise people's awareness of the importance of combating food loss and waste which is a critical global issue (see project examples below).

About Sustainable Development Bonds

The World Bank raises funds by issuing Sustainable Development Bonds in the international capital markets to support the financing of sustainable development projects in developing countries focusing on poverty reduction and inclusive growth across a range of sectors, including among others: agriculture; education; healthcare and social services; environment and gender. The World Bank’s mission is to end extreme poverty by 2030 and to promote shared prosperity in a way that is sustainable over time and across generations. These “twin goals” are aligned with Sustainable Development Goals.

About the World Bank

The World Bank (International Bank for Reconstruction and Development, IBRD), rated Aaa/AAA (Moody’s/S&P), is an international organization created in 1944 and the original member of the World Bank Group. It operates as a global development cooperative owned by 189 nations. It provides its members with financing, expertise and coordination services so they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global economic and environmental problems. The World Bank has two main goals: to end extreme poverty and promote shared prosperity. It seeks to achieve them primarily by providing loans, risk management products, and expertise on development-related disciplines to its borrowing member government clients in middle-income countries and other creditworthy countries, and by coordinating responses to regional and global challenges. It has been issuing sustainable development bonds in the international capital markets for over 70 years to fund its activities that achieve a positive impact.

World Bank Project Examples

Philippine Rural Development Project: This project supports infrastructure development in priority commodity value chains including farm-to-market roads, bridges, post-harvest facilities, production facilities, storage facilities, and aims to increase rural incomes and enhance farm productivity in targeted areas by supporting smallholders to increase their marketable surpluses and their access to markets. For more information: https://projects.worldbank.org/P132317/philippine-rural-development-program?lang=en&tab=overview

Grain Storage and Information for Agricultural Competitiveness Project for Mexico: This project will contribute to developing market conditions that enable producers to participate in a storage system that incentivizes productivity, reduces losses through post-harvest management, and facilitates access to financial mechanisms. Activities to improve the storage infrastructure include the construction, rehabilitation, or upgrading of existing grain storage facilities, including collection and trade centers. For more information: https://projects.worldbank.org/P160570?lang=en

Project examples are for illustrative purposes. There is not a direct link to between these bonds and these projects.


柳 美佐
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